by David Chapman
Staff Writer
Of all the tips, tricks and ways to grow a business, Interline Brands Inc. Chair and CEO Michael Grebe has one he adheres to more than others.
“The only way to be successful in business is to surround yourself with great people,” said Grebe. “Talent management is hard. If you don’t have a talent management process, start one.”
Grebe’s advice went to close to 50 second-stage business owners who attended Thursday’s CEO Nexus Forum. The quarterly forums are held by the Jacksonville Regional Chamber of Commerce to bring together Northeast Florida’s more successful business leaders with second-stage business owners to hear experiences and tips on how to grow their business. A second-stage business is defined as an established, homegrown business with about $1 million to $50 million in annual revenues with an owner who has the desire and potential to grow.
Grebe told the group that talent management for Interline Brands — a Jacksonville-based direct marketer and distributor of maintenance, repair and operations products — includes sitting down with senior managers with little to no paperwork and talking about those people who report to them.
Discussion generally involves having those managers grade their individual team members as an A, B or C on two parts: how their work is being performed currently and their potential level.
“Think about trends a few years out,” said Grebe.
On future plans, Grebe told the group he also sits down with Interline’s board of directors to discuss a five-year talent plan and had some insight on surpassing the $50 million threshold and into greater revenue.
“There’s going to be some people who can get you to $50 (million) that can’t get you to $100 (million),” he said explaining how some people are more suited for smaller business.
And when it comes to business owners evaluating their talent, they have to reward those they deem are the best.
“You have to reward ‘A’ talent in both the soul and wallet,” he said. “Not everything is equal.”
And for business owners facing tough economic times yet needing to hire the talent to succeed, Grebe also adheres to another principal: if a business is trying to save money, eliminate the job altogether. If a business is looking to hire, spend what it takes to get the needed talent.
Grebe also told the group to create a system on their computer and add names and contacts of impressive people they come across for future potential hires or dealings, even if the person is currently working elsewhere.
“You’d be surprised how many smart and talented people you meet,” he said.
And if business owners have “C” players on their team?
“Set a deadline,” he said.
On the planning side, Grebe said the company doesn’t believe in three- or five-year plans, because events like the recession end up ruining them. But, he does advocate business owners have a plan in the case of another recession.
“The good news,” he said, “is now you know how.”
His last piece of advice involved the acquisition of capital. With the many factors at hand, from the strength of the U.S. economy to the overall stock market, having to line up perfectly for business owners to receive the best rates, go for the reasonable offers when they materialize.
“If a financing window opens, jump through it,” he said.
Sandy Bartow, chamber small business executive director, said she was impressed with Grebe’s advice, especially the focus on talent and need to surround one’s self with it.
“As you grow a company, you can’t do it yourself,” she said. “Sometimes, entrepreneuers as they make the transition have difficulty not doing everything themselves or not being a part of every aspect of the company … it was good advice.”
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