EPISODE #25May 7, 2020
Jeffrey Hayzlett, CEO & Founder of C-Suite Network
How a former Fortune 500 CMO bought and sold over 200 businesses!
About our guest Jeffrey Hayzlett
Jeffrey Hayzlett is a leading business expert, bestselling author, primetime television and podcast show host, and keynote speaker with notable expertise in starting, running, and selling businesses. He is the CEO of C-suite Network and the Hayzlett group in addition to being a board member, trustee, and chairman for numerous other companies. He runs several different councils and media companies and has previously been the CMO of Kodak. He has bought and sold over 250 businesses for billions of dollars.
A global business celebrity, Jeffrey Hayzlett has been featured on leading television networks and magazines. He was the host of the Bloomberg series C-suite with Jeffery Hayzlett which featured an inside look at several big companies and also appeared as a guest judge on NBC’s Celebrity Apprentice. He has also partnered with our host Jeff Barnes on Angels and Heroes Venture Growth Fund.
He hosts the business podcast All Business with Jeffrey Hayzlett on C-Suite Radio where he shares his executive insight and commentary. His bestselling books include The Mirror Test, Running the Gauntlet, Think Big, Act Bigger, and The Hero Factor: How Great Leaders Transform Organizations and Create Winning Cultures.
Advice for Businesses looking to grow through acquisition
Jeff believes that business owners must first think about and answer some important questions before embarking on an acquisition strategy and even before starting a business. The key questions should be:
- What are your conditions of satisfaction as a business?
- What are you trying to drive? What are you trying to achieve?
- What might be the scenarios for the business itself? Determine the right fit based on your access, resources, knowledge, etc.
- Do we have some people to do it? Is there a good partner? Is their partner willing to do it with us or not?
- Does this make sense? Or not? Do we want to do it this way or that way?
Tips for Investors
- Develop a sound strategy
- Build a trusted network
- Develop a team of value-driven people
- Think about your conditions of satisfaction
What to look for as an investor
- The track record for the company
- Sales and market strategy
- Thoroughness about researching the target market and industry requirements
- See if the team is realistic and transparent
- Ask lots of questions to get to know the people behind the company.
Insights from the book the Hero Factor
At the C-suite network, Jeffrey Hayzlett has formed the Hero Club, a value-based organization for CEOs. If a business has greater core values, they have the ‘hero factor’, which puts them ahead of others. These values include integrity, diversity, inclusion, and putting people over profits. They have certain walkaway values that they do not compromise on. As a result Hero businesses get more revenue, happier employees, engaged customers, eager vendors, and respect from communities.
Advice for first time angel investors
- Focus on possibilities instead of risks.
- Trust experienced groups or networks to mitigate risks.
- Investor networks have the right resources and experience and carry out due diligence to sort through opportunities.
Jeff says that he once invested in pheasant farming which led to disastrous results. The lesson he learned was that it’s important to do your homework whenever you invest. He does not believe in the advice “follow your passion”. Passion helps to develop your interest. After that follow your head and pay attention.
Find out more about Jeff Hayzlett here