Dec 17, 2019
CEO Ray Schiavone comes on the podcast for a special two-part interview where he shares his thoughts, experiences, and advice on a broad range of subjects ranging from leadership and management to the importance of listening and learning, coaching and building good teams. Ray is one of the most talented and well-rounded CEOs I’ve ever met.
ABOUT OUR GUEST
Ray Schiavone started his career at G.E. during the then-CEO Jack Welch’s tenure. He then moved on to act as a tech company CEO twice over and has since settled into running his own firm.
Ray is a graduate of Syracuse University and subsequently earned an MBA from the University of Maryland where he serves as a board member for the A. James Clark School of Engineering. He has been recognized for his accomplishments with numerous awards including the Michigan Venture Capital Association’s Entrepreneur of the Year Award, Crain’s Detroit Business 40 Under 40 and the Ernst and Young Entrepreneur of the Year Award.
GET IN TOUCH WITH RAY ON LINKEDIN
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KEY TAKEAWAYS
[1:52] Michael introduces Ray Schiavone and asks him to share an interesting fact about himself — from a formal living room to a music studio: piano, drums, and guitar.
[3:31] What does Ray do now? Business is his passion and he now helps entrepreneurs move their business along towards successful exits. He touches on the start of his career.
CROSS-FUNCTIONALITY [5:40] Becoming a jack of all trades and a master of none can be scary, but on the road to CEO, it can be a blessing: every skill and insight was invaluable in higher roles. David shares the way he approaches new opportunities: always say yes and make sure to position yourself so that when the opportunity comes, you are ready for it and start by listening, learning, and then trying something new.
14 YEARS AT G.E. [11:45] In the late ’80s and early ’90s, G.E. was one of the most revered companies in the world. Why did Ray decide to change? An opportunity showed up!
THE FIRST DAY AS CEO AT ARBORTEXT [15:29] Terrifying! Ray recounts his experience from not knowing what to expect in terms of employee perspective to defaulting to himself. For Ray, that meant listening and learning. He shares the first few weeks of interviewing employees, working with them to build an assessment and getting their support.
IT SHOULD’VE BEEN ME! [20:34] Ray gives his tips on managing people who bid for but didn’t get the position you now hold. He also shares two pieces of advice on when you should engage the board on an issue:
- Bad news doesn’t get better with age
- What’s your solution
CHALLENGES [23:48] A CEO works for all the employees; in that regard, Ray shares some missteps to avoid:
- Don’t think you have all the answers — you don’t
- Don’t be a bully
- Rally the team
WHY BECOME A CEO [27:32] Ray asks why not to do it instead: power, you really don’t have as many decisional levers as you might think! Ray and I discuss leadership and management which leads to a story about what Ray’s employees had to say to his wife!
CEO INTERVIEWS [32:52] The interview process for the CEO position is mostly about assessing character and evaluating trust. Ray shares a funny anecdote on his personal experience with the interview process at Arbortext!
EXPERIENCE [35:22] Ray describes the kinds of experience you should aim to get if you are an aspiring CEO. From taking chances to making sure you are visible.
MANAGEMENT STYLE [36:35] Ray speaks to his management style of empowerment, driving and demanding excellence and his mantra: “Have fun, make a buck, and win.” He also touches on how he rewards excellence and shares the actual organizational concept and work routine he uses — quick market intelligence.
VPs AND SVPs [42:22] What does Ray look for in a VP or SVP? He explains what sets people apart that manage to break into the c-suite: how they tackle ambiguity! Can you come up with a vision without any directive?
GUT HIRES [44:57] Ray shares the story of a persistent applicant and how he hired one of his CFOs.
[47:38] Michael invites Ray Schiavone for a Part 2 and closes out the podcast with his favorite takeaways.
We hope you learned something today and enjoyed the conversation. Please give us five stars on iTunes and share your comments so we can improve and ask the questions you want to hear.
MENTIONED IN THIS EPISODE
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