S 01 | Ep 28 Managing a high-growth organization in a mature industry

CEO, President, and Business Coach

RJ Grimshaw is a bona fide expert in business leadership. Coached at a young age by his father, who owned several different companies, RJ learned the ins and outs of business growth and management when he built a million-dollar company at age 22. After spending twenty years in corporate America, RJ worked his way to the top and, in 2013, became the President and CEO of UniFi Equipment Finance. Under RJ’s leadership and executive direction, UniFi grew from $13 million to $120 million in 6 years.

Key Takeaways

(04:58-10:22) A culture centered on purpose and impact

(10:23-14:45) Key traits that define an intrapreneur

(14:46-17:35) If every team member could be a founder

(17:36-23:03) The challenges of finding the right candidates

(23:04-31:06) Balancing career aspirations within realistic constraints

(31:07-41:31) Create an environment where everyone's voice counts

(41:32-46:24) Recognize failure as a learning opportunity

(46:25-56:17) The story of UniFi's transformation

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Intrapreneurship Driving
Corporate Innovation

Introduction: Cultivating an Intrapreneurial Spirit for Growth and Impact
In this episode, Alex delves into the powerful dynamics of fostering an intrapreneurial culture within organizations with RJ Grimshaw. They explore how a focus on purpose and impact can drive employee engagement and attract mission-aligned talent, using RELAYTO as a compelling example. RJ shares key characteristics that define an intrapreneur – from an ownership mindset to a drive for innovation – and provides insightful strategies for identifying these traits in potential hires, including his intriguing "dinner test" and the revealing "dream job" question.

1. A culture centered on purpose and impact

Alex sheds light on the environment at RELAYTO, where a team of founders drives a culture centered on purpose and impact. They explore the significance of risk-taking and the fulfilling aspect of contributing to the creator economy. RJ emphasizes the positive impact of intrapreneurship on employee engagement in larger companies. The individual initiatives have to be aligned with the organization's mission and vision.

They discuss innovative hiring approaches, like the "internpreneur" role, where individuals are given ownership to contribute meaningfully, attracting those genuinely committed to making an impact. Alex talks about the mission-driven culture at RELAYTO in encouraging enthusiasm and dedication among the team, emphasizing the need to align execution with the overarching mission.

You see the engagement goes up tremendously. And the simple reason why is that these intrapreneurs and the team members feel valued because their voices are heard. They feel that they're adding value to the organization. So, there has to be alignment between the intrapreneur and the mission vision of that founder. If that aligns, it becomes extremely special (RJ Grimshaw).

2. Key traits that define an intrapreneur

RJ praises Alex for his innovative job descriptions, which have attracted higher-quality candidates. They banter about how job roles with tough execution demands quickly filter out those who might overestimate their abilities, especially among eager newcomers hoping to dive into entrepreneurship. The discussion emphasizes how the work environment swiftly exposes individuals’ ability to deliver results.

RJ shares key traits that define an intrapreneur within an organization: an ownership mindset, continuous learning, passion, calculated risk-taking, and a drive to innovate or improve. He highlights the need for balance, stating that not everyone needs to embody all intrapreneurial characteristics for a company to succeed.

There are really five things to look for in an intrapreneur. From a basic high-level perspective, it's really an ownership mentality of their responsibilities, which means they're held accountable, and they're fine with that. They're a life learner, a person that's always trying to learn on a daily basis. They take calculated risks. And then they have a drive to spark change (RJ Grimshaw).

3. The challenges of finding the right candidates

RJ lays out his criteria for evaluating candidates, stressing values like trustworthiness and effective communication. He humorously mentions his dinner litmus test for potential hires, emphasizing the need for authentic rapport beyond qualifications.

They dive into RJ's intriguing interview question: "If money weren't a factor, what's your dream job?" This question, they discuss, reveals a person's true passions and motivations, sometimes eliciting deeply personal responses.

They ponder the ethical side of hiring, leaving a positive mark even on candidates who might not fit the role. Alex highlights the value of offering a positive experience, irrespective of the hiring outcome. They explore both selecting suitable candidates and respectfully communicating outcomes to all applicants, aiming to create a positive impression throughout the hiring journey.

There's a simple rule of thumb that I've always used when hiring people. Would I go to dinner with this person and enjoy a couple of hours with them? If the answer is yes, then that's one of the barriers (RJ Grimshaw).

4. Create an environment where everyone's voice counts

RJ stresses that when folks can freely pitch ideas, companies end up with happier customers. He's all about the regular workers contributing gold when they feel listened to and respected. Alex spotlights how those on the front lines often have the best ideas because they're right there with the customers. Making sure everyone feels part of the big picture is key, he says.

They go deep into how innovation initiatives are communicated. RJ's big on making sure the message matches the delivery, stressing the need for leaders to be fully committed to a long idea-sharing journey. They both agree that being clear about decisions and highlighting small wins can help cheer up those whose ideas didn't take off.

There's been a recent survey by Bain & Company. They found that the companies with an entrepreneurial culture had a 30% higher net promoter score (RJ Grimshaw).

5. The story of UniFi's transformation

Alex and RJ dive deep into how different businesses and industries manage risks. They chat about how risk profiles change as a company grows and how certain industries demand bold bets while others thrive on a portfolio strategy.

RJ shares a story about UniFi's transformation—imagine a restaurant that serves everything, but then they realized they couldn't scale like that. So, they made a decision, became a "steak shop," and that move pushed their business to the next level.

Alex connects the dots, talking about how entrepreneurs have this knack for making customers happy and how that creates a fantastic environment for everyone involved. RJ jumps in, highlighting how entrepreneurs are driven by love for what they do, not just money, comparing them to athletes chasing the glory of winning.

We had to make an educated decision: who we are, where we want to go, and who we are going to say no to. Because we can't serve all. By serving all, we're actually hurting the value that we bring (RJ Grimshaw).

Check the episode's Transcript (AI-generated) HERE.