265: Clay Mathile - Self Made Billionaire Shares His Keys To Success
2018-07-08 · 50 min · episode 265 · 16 entities
Asserted relationships
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rs Waitress To President of Cinnabon Episode 216: Jim Collins -- How To Go From Good To Great Episode 179: How To Sustain Excellence - The Best Answers From 178 Questions
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llence - The Best Answers From 178 Questions Episode 234 : Jocko Willink -- Why Discipline Equals Freedom
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Feed author/publisher: Ryan Hawk
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rs Waitress To President of Cinnabon Episode 216: Jim Collins -- How To Go From Good To Great Episode 179: How To Sustain Excellence - The Best Answers From 178 Questions
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evidence rules-v5
llence - The Best Answers From 178 Questions Episode 234 : Jocko Willink -- Why Discipline Equals Freedom
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CEO of Procter
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Feed category: Business
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Entities found in this episode
books 6
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rs Waitress To President of Cinnabon Episode 216: Jim Collins -- How To Go From Good To Great Episode 179: How To Sustain Excellence - The Best Answers From 178 Questions
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evidence rules-v5
llence - The Best Answers From 178 Questions Episode 234 : Jocko Willink -- Why Discipline Equals Freedom
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0.70 · ×3
evidence rules-v5
rs Waitress To President of Cinnabon Episode 216: Jim Collins -- How To Go From Good To Great Episode 179: How To Sustain Excellence - The Best Answers From 178 Questions
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0.69 · ×3
evidence rules-v5
llence - The Best Answers From 178 Questions Episode 234 : Jocko Willink -- Why Discipline Equals Freedom
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0.50 · ×3
evidence rules-v5
rs Waitress To President of Cinnabon Episode 216: Jim Collins -- How To Go From Good To Great Episode 179: How To Sustain Excellence - The Best Answers From 178 Questions
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evidence rules-v5
llence - The Best Answers From 178 Questions Episode 234 : Jocko Willink -- Why Discipline Equals Freedom
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CEO of Procter
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Feed author/publisher: Ryan Hawk
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Episode description as stored
The Learning Leader Show With Ryan Hawk
Episode #265: Clay Mathile - Self Made Billionaire Shares His Keys To Success
Former CEO and owner of The Iams Company, Clay is the founder and Chairman of the Board of Aileron. He believes strongly in free enterprise and has a high respect for business owners who risk their capital to employ others. Clay attributes professional management as one of the key reasons he was able to grow Iams to a $1 billion organization. In 1999, the Mathile family sold Iams to international conglomerate Procter & Gamble for the sum of $2.3 billion.
The Learning Leader Show
"I bought the business with borrowed money. I was scared to death. I didn't know how to run a business. I had to learn." -- Clay Mathile describes his feelings after buying Iams
Show Notes:
Sustaining excellence: Vision of what they want to do and where they want to go
A good idea of how to get there
Committed to their vision and idea
Clay's 4 things he wanted Own his own business
Have that business be something that was excellent and stood for something
To help entrepreneurs grow
To use technology learned to help develop food for indigenous people
Was hired at Iams in 1970 as the 7th employee It took five years to figure out the problems and five more years to fix it
Convinced Paul Iams to sell Iams to him in 1975 (half) and the rest in 1981
Borrowed money to buy it
Why Clay? "Paul had seen me work and seen me make an impact on the business. I spent a lot of time on the sales and marketing strategy." Focused on the breeders and vets. The people who influence the actual user. Clay was ahead of his time.
Went to President's Course in 1982 at American Management Association "I'm scared to death, I don't know how to run a business. I needed to learn."
The key was hiring a President and super charging their growth
What went in the decision to sell the company? Sat down with his family to decide what each child wanted to do - "They all wanted to chase their own dreams, their own passions. They didn't want to own Iams."
The CEO of Procter & Gamble called... Clay takes us inside the room to negotiate the deal: "We told them what our number was... And they exceeded it. It ended up with $2.3 billion."
Starting the family office in anticipation of the sale of his business -- To build a new organization for the future.
Aileron started as the center for entrepreneur organizations in 1994
Aileron - "We give lift and guidance to the business owner."
"How can I possibly repay you?" -- Clay said to his mentors. They said, "Don't pay me... Just pass it on to others."
"People are looking for immediate help for a problem they are having right now. And we've designed this place to help them solve those problems."
Been married for 55 years, have raised a successful family... How? "When I was home, I was home. I was present. I wasn't playing golf or out with the boys."
Keys: "Trust... You have to like the person too. Like hanging out with them."
Why everyone should have a board? "They see things that you don't see. A strategic overview. It's something you can't do yourself."
"After you've been in business for 10 years, 75% of all problems are because of you."
Having a "Personal Board of Advisors" "I recommend all senior executives have mentors. All you have to do is ask. I've never had anyone turn me down when I've asked them."
"Build trust and mutual respect."
Culture "I built it so I could work in it."
"I had strange things in my management style. I was promoting empowerment before it was popular."
"Most people do the right things for the right reasons if you put them in the right environment."
"The value of the individual is so important. Treat them with respect. They feel important and special. I saw every single employee at least once per year all over the world."
"People are inherently good."
Bad leaders = "Big egos, not trusting of others, insecure people."
"When you push people outside of their comfort zone, you can't beat on them w