Don McNeeley, is the President and CEO of Chicago Tube and Iron (CTI) which celebrated 100 years of consecutive profitability earlier this year. In this fourth of five conversations I have with Don, he explains the CTI business model and its evolution over the years. More importantly he explains the “why” behind each evolution. The insight he shares will help you look at your business in new ways so that you can find new revenue streams that lead to profits, relevance, and sustainability.
Early on in the conversation we get personal as well. We explore a tough topic, one that I don’t think gets enough focus these days. An issue facing many distributors is that many individuals leading distribution businesses are nearing retirement. Intuitively they know they need to reimagine and reinvent their business model. But they might not have the energy they once did. Their propensity for risk might not be as acute as in earlier years. Don and I explore the options.
And there is much more, such as four business models to consider, When an exit strategy should be considered over business model innovation, the four stages of life and how they correlate to business model innovation … and more.
In this 34 minute episode Don and I discuss:
- Taking action to reimagine the business
- The ONE thing every business must do when costs rise
- The four stages of life and what they mean to business leaders
- The one question to ask to determine if you commit to a strategy
- When an exit strategy rather than business model innovation make sense
- Four business model options
- Threes ways a nation builds wealth
The Show Notes
- Don McNeeley Bio: Northwestern University’s McCormick School of Engineering
- Chicago Tube and Iron
- Northwestern University McCormick School of Engineering
- Articles Written By Don McNeeley at The Wholesaler
- Inflection Point Definition on Investopedia
- INNOVATE! How Successful Distributors Lead Change In Disruptive Times
- Dirk Beveridge Speaking
- UnleashWD Innovation Summit
Other Episodes In The 5 Part Don McNeeley Podcast Series
- Episode 1 – Points of Inflection and 100 Years of Continuous Profitability
- Episode 2 – Capitalism, Country, Culture and Your Life’s Work
- Episode 3 – Commoditized Hell? Here Is What You Must Do
- Episode 5 – Transformative Leadership: November 30th
Links will be provided with each episode broadcast.
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