You know, I don't hear enough of the "battle scars" here in SMB land.

I want to encourage us to talk about the bad stuff in operating businesses more.

Here is a short story to kick it off...

🚨Spoiler - I f@cked up with an employee

🧵
A couple of years ago we had a Head Chef in our kitchen that was known to fly off the handle from time to time.

This is normal in the kitchen environment

I don't like this personality trait in chefs, but I have had to accept it to a certain extent.
Time goes on...

I realize this chef's fits were getting more frequent and their work performance was slowly degrading.

Long story short, their work performance wasn't degrading enough for me to instantly jump into action.
I made the decision to ignore (Don't do this)
For context: the catering company runs very lean with minimal redundancy in staff. So, losing this person would hurt for several months.

I was afraid of discussing my concerns with this chef because I didn't want to lose them.
Unfortunately, the poor behavior continued.

I know...Surprise surprise

It finally reached a boiling point for the team when this chef blew up and started ranting about how good they are and how "terrible" the team is blah blah blah...
This was my moment, I was going to shift my mindset as a leader and tackle this head on.

So I prepped for a talk with the chef by:

Documenting the problem
Discussing with other employees
Creating a write-up system
As I just took over at this company, I was slow to implement some of these processes because I had a tendency to work IN the business and not ON the biz.
The problem:

I decided to introduce this new employee accountability system, especially for this chef.

This went over like a lead balloon.
I was called a hypocrite for calling this chef out when so many other employees have "gotten away" with things without a write-up or coaching session.

The discussion turned into an employee yelling at me and threatening me for 10-15 minutes before I ended the convo.
What should have been a write up and/or a (difficult) but productive discussion turned into a yelling match.

The chef quit the next day.
The problem is they were correct...

I was introducing a new accountability system for all employees but this chef only saw it as a "witch hunt" targeted at them.
I created this situation by ignoring a small problem early.

I degraded my reputation by not tackling this fast. Being a new leader in the company, I should've been more concerned with my trustworthiness and ability to lead.

It's not all about just getting more work done!
After this incident I was left with:

💣No head chef
💣Degraded leadership reputation
💣Lower team morale
💣A recruiting problem
What I did have was an OPPORTUNITY

Opportunity to improve as a leader
Opportunity to improve hiring practices
Opportunity to create accountability
Opportunity to change
see, it's not about preventing problems and f@ck ups...

As a leader, you WILL screw things up!

It's all about how you handle these instances.
Make no mistake, I handled this situation WRONG

But I did a few things right:

✅I owned it
✅I didn't shy away from accountability
✅I debriefed with the team
✅I focused on how I needed to change
After licking my wounds and feeling bad for myself, I matured as a leader.

I shifted from "how much work can we get done?"

to

"How can I develop and maintain a rockstar team that will get a ton of work done and enjoy doing it?"
As a leader, you are a "fixed point" for your team.

You're there to support and develop.

And when things get tough, you roll up your sleeves to help without question.
You CANNOT ignore problems and you must do the hard things because they are hard!

Take it from me, a small problem becomes unbearably huge very quickly.

Tackle things when they're small.
Some key takeaways:

🔑You are human
🔑Own your mistakes
🔑Don't panic
🔑Focus on solutions
🔑Recognize when you need to change

#entrepreneur #ETA #smallbusiness
If you enjoyed this story of hard-won lessons as a budding leader, give it a like and retweet the first tweet in the thread below 👇👇

Follow me for posts about buying and operating businesses. Some pilot stuff too!

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More from @jacubwilliamson

Dec 4, 2022
I bought my family catering company in the middle of the COVID pandemic.

I broke down in tears on more than one occasion in 2020-2021.

I honestly don't remember entire months at a time.

Here is a dose of reality for first-time buyers.

A 🧵
🚨Buying a company is hard....

💣Buying a family company is harder...

You have to manage emotions on both sides of the table and come out the other side getting along. Your happiness depends on it.
I did everything against the norm in buying my first biz:

💥Stock sale to help with seller taxes
💥Timed the sale to help the seller
💥Didn't include 100% of the COVID slump
💥Etc...
Read 27 tweets
Dec 2, 2022
One of my favorite small business ideas:

1. Pick a hobby that you spend too much $$ on (mine would be aviation or cars)
2. Create a newsletter for that hobby

This could also be a Youtube channel with voiceover and animation.
3. Market to other enthusiasts via reddit/twitter/FB/Insta

Focus on building an audience and monetize later.
Read 4 tweets
Nov 9, 2022
I accumulated 500 flight hours then took 10 years off of flying... ✈️

I recently got back into the air to renew several of my licenses.

Here are 5 lessons I have learned from getting current as a pilot.
#alwayslearning #entrepreneur

🧵
Number 1 with a bullet

If you have a passion, you MUST find time for it.

Be militant about carving out time in your schedule for the things that feed your soul.

I work aviation into my professional life, but if it was 100% pure hobby, I would still make an effort.
The childlike joy that I feel when participating in challenging/rewarding hobbies would be priceless if you could bottle and sell it.

As a workaholic myself, I have been happier and more productive since taking up flying again.

ncbi.nlm.nih.gov/pmc/articles/P…
Read 12 tweets
Oct 31, 2022
The process of valuing small-medium business may be broken

Here's how I bridged the gap between a seller and myself recently.

THREAD 🧵 ... Maybe too long... 😂
CONTEXT... 📚

I happened upon an events based business that provides custom fabrication work for large scale corporate activations and festivals.

Since my first business is in the hospitality space, I dug in....
PROS:
✅Rev = $3 mil + for the last 5 years
✅22% EBITDA margins
✅GM in place
✅30 years in business
✅Owner retiring and wants to travel
Read 23 tweets

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