Welcome to the “Show Me The Way” podcast with David Seitter
In this episode of “Show Me The Way,” Dave sits down with DeWayne Ables, Founder and President of Pioneer iQ, to discuss leadership transition and sustainable business planning, understanding the far-reaching impact of an organization on people’s families and community, and how to empower the next generation of leaders.
Ep. 25 — The Pioneering Coach with DeWayne Ables
DeWayne provides an overview of his journey from working in the oil fields of East Texas to founding Pioneer iQ. He began working oil fields at an early age before finding his passion in building construction companies rather than the buildings themselves. He discovered his calling in helping executives and managers understand the potential within their organizations and guiding them towards growth and profitability.
DeWayne says most of their clients come from speaking engagements or referrals, highlighting the importance of networking and establishing a strong reputation in the business world. He also mentions that the majority of their engagements last between 12 to 24 months, emphasizing the commitment and long-term nature of their work.
Leadership Transition and Sustainable Business Planning
DeWayne emphasizes the importance of understanding the far-reaching impact of an organization on people’s families and the community at large. This goes beyond the balance sheet and taps into the essence of what the business is about.
He continues by highlighting the need for adequate timelines when transitioning ownership of a business. He advises business owners not to rush the process, but to give themselves enough time to plan and prepare for the transition. This can help them make better decisions about future leaders and create a more sustainable business plan.
One of the main points he underscores is the importance of empowering the next generation of leaders. He suggests that business owners should work towards creating an environment that allows new leaders to make decisions and be successful in their roles. This involves identifying potential leaders within the organization and investing in their development.
Dave connects how military leadership can be used to inform how businesses can be led. He suggests that the military model of leadership, which involves constant preparation and transition of people into and out of authority, can be applied to businesses. This model prioritizes people over profits and can lead to immense success. However, DeWayne notes that many businesses don’t understand how to deploy this model.
People Over Profits and Projects
DeWayne continues by drawing connections by comparing Patrick Mahomes’ and Andy Reid’s championship playbook and how to develop leaders and prioritize people over profits. He sheds light on leadership and succession planning in business, underscoring the need for a shift in the traditional leadership model within the construction industry.
He emphasizes the significance of people over projects, underlining the importance of recognizing and nurturing potential leaders within the organization. He suggests a model that focuses on training leaders continuously, rather than a one-time training process.
He also discusses the importance of timing in the leadership transition process. If a leadership transition is planned in less than three years, he advises extending it to five years. The more time a business can dedicate to the transition process, the better the outcomes will be.
DeWayne also highlights the importance of succession planning amidst looming recessions and the growth of mergers and acquisitions. He emphasizes that businesses need to look at the long game, considering what the next five to ten years will look like.
Furthermore, he urges business owners to focus on understanding the greater purpose of their organization beyond just making a profit. This will help identify and develop leaders who are genuinely passionate about what the business is trying to achieve.
Leadership, Sales, and Business Advice
The conversation shifts to the crucial elements of leadership, sales, and business advice. DeWayne, an experienced business growth and succession planning expert, offers key pieces of advice for leaders to ensure successful transitions when selling their business. He discusses the need for leaders to not only create a vision but also align with others who share that vision.
One of the key takeaways from this segment is the importance of identifying a buyer who has an aligned purpose and vision for the business. This ensures that the legacy of the company continues and that the values that were foundational to its success remain intact. It’s not just about finding a buyer with the right financial capabilities, but also one who understands and appreciates the core principles of the company.
Furthermore, DeWayne emphasizes the significance of ‘connecting the dots’ for employees, explaining to them why the transition matters and how it will impact them. This helps to cultivate an environment of trust and transparency, which is crucial during times of change. Leaders need to communicate effectively, ensuring that employees understand the reasons behind the transition, the benefits it brings, and the role they play in the process.
Lastly, he highlights the challenge of transitioning from a hero-leader to a supportive one. A ‘hero-leader’ is often seen as the figurehead, the one who makes all the critical decisions and steers the direction of the company. However, in a transition or succession planning scenario, the leader needs to shift to a more supportive role, empowering the next generation of leaders to step up and take charge. This requires humility, trust, and a willingness to let go, which can be a difficult process for many leaders.
To assist with this journey, DeWayne offers his personal contact information for anyone seeking guidance. To reach DeWayne, call him at (913) 636-7373.
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.