I sat next to a turnaround CEO in a workshop over the weekend for #4word women at C-level. She told me about her unique approach with one turnaround job – how the investor was astounded that she didn’t use the usual slash and burn tactic that makes turnaround CEOs famous. She recognized that the company’s assets were mostly invested in the knowledge and experience of the team, so she set out on a listening tour.
When the revenue started to sky rocket, the investor asked her, “What did you do?” She was not exaggerating her humility. “I asked the staff what we should do. Then I did it.”
Human assets are not a line item in mergers and acquisitions. Cases like these are proving that our economics might need to change. More on developing your human assets at Peak StartUp Week with 360º Life Strategies on Friday at 8 a.m. and more on the Lifetime Value of an Employee on my earlier blog here.