Hockey, Public Company, Rochester discussed on What Got You There with Sean DeLaney
I Hate Winter Ski. I didn't like Ice Skate. Take another that But that was my conflict but you ended up staying in Rochester. When you got family and friends rely friends funds were long time? It's hard to leave so we stayed in Rochester. Once once twice during our history we thought about moving out of state Mainly because because of tax reasons so we decided it's just too big of a move to many people stayed Rogers interesting interesting. E there was a quote I remember remember reading about when you bought the Buffalo Sabres and that no one else was stepping up to the plate to support that community. So it seems like it's it's entrenched in you'd at to help that always that like purchasing a professional sports well first of all I only see three. NHL Hockey Games in my life. So I know nothing about the game. I wasn't real excited sighted about it. I never watched Like that but the city of Buffalo is in trouble. I mean this. This hockey team was important. Part of their culture and and people demonstrated that to me and I became interested same time it was also running for governor. It brought brought about quite a bit of conflict because everybody thought I was interested in buying the sabres. Because I was doing it for political reasons which is not the case uh-huh But the result was we ended up by the team and I became much more of a hockey fan. I why did the team to run at least break even didn't necessarily have to make a profit but I didn't want it to lose money and after I tough year are we really turned it around. Would he bought the team. We had fifty five hundred season ticket oldest by the end of the second year. Fifty thousand and that you know obviously turned and financial picture at a competitive nature in your exactly now. One thing. I'm so intrigued. By though is running paychecks you so you mentioned the run for Governor and then the hockey team. How are you possibly able to manage that? I'm good delegator is that is that the key to it all. I think it is the key to it all. I always thought it was my responsibility to be a good delegator Accomplish more because if you put it all on your shoulders unders you're gonNA limit yourself but being a good delegator bringing in the right people to execute than you give a lot more done. How early on did you identify? Dentist this from the early really early. Yeah I'm so intrigued by that because you see so many people who are just so stuck controlling controlling their entire business and they can't grow. That's just an incredibly aware of you to be able to do that early on you know it's funny you ask that question because I'll tell you a story Several years this guy's asked to do Presentation to group of entrepreneurs right here in Naples was about three hundred people in the audience he had at the end of the presentation tation and that at the end of the QA. Women's up and said Mr Gallison she said the. How many people did you have to stop down on while you're the corporate ladder? And my immediate response was Ma'am the key is not the trampled down keys debris with you. And that's what I felt. I did with my eighteen or nineteen partners in franchises and all the rest of the heroes didn't do it just for myself. I brought everybody along and to me. That's the Keel at. It's so funny just reading the book and then you mentioned all of those original partners if they kept all their stock doc if you were I think it was two hundred fifty million dollars. What's that like being able to step back for a minute and see the value created not just for for the employees toys the shareholders but the number of people that you've truly impacted over the years with has like it's two things it's first of all extremely gratifying? It's also creates a lot of pressure yourself to continue. You know 'cause you brought a people belong to a certain point you on new ones that you just brought brought in to be as successful as earl's so it creates responsibility which I think is great. This is what makes the world go round. It seems like a reoccurring theme that keeps keeps coming up. Is that growth mindset. You have Y- you mentioned can continue to devote evolve and develop and I'm really intrigued about the growth mindset when you took the company public until you take a company public. You've never done it before. So then how do you learn quickly. Enough that to navigate all the things that come with public company. Well first of all you need a really good support person chief financial officer because they are responsible for the day to day. Contact the banks in Wall Street so you gotta they have a person that really knows their way around in that arena a second. You gotTA keep an open mind you gotta learn yell. Stock analysts to some people revere them some people dislike them. I haven't a revere them Mainly because I thought it was important that they understand the paychecks story that they understand where we're going in how we're going to get there and that will drive the stock price to a more positive rate. When I hear people talk about being a public the company everybody quarterly results? We didn't fear that because it created disciplined structure for us. We wanted to continue to grow but we wanted to do at disciplined structured way so that Wall Street understood it was supported so it was more of a marketing challenge. If if you will because if you don't find a way to promote your stock in a positive way nobody's GonNa let you mentioned having that that vacation that long-term vision does that get down to the culture that you create within that company she. I hope so The one thing about growth as you brought up is when you have growth in the company. People are excited they try. Harder is very less us. politicking backstabbing. Everybody's upbeat soon. As Your Company's growth starts to level off then the spirit it starts to diminish politics begin to creep so so far so it's a very important reason to have both just to keep people's attitude and spirit in the right direction. So let's talk about that. I know paychecks of for the majority of the time everything was seventy percent year over year increases. Many years how do you develop L. AP- that positive mindset and that belief when things aren't going necessarily great at the time you gotTa have basics. We have a strong marketplace. I mean the numbers. Small businesses in this country compared to how many of them are using a payroll service. It's a wide open market. So if you have that situation that's very very important. Secondly if you run the business well and you can show prophets Without out being over over demanding but you can be a profitable company in prophets can grow and people could benefit from that We have a lot of people in stock options in the company and of course that drives a lot of their efforts to you mentioned delegation a few minutes ago. And I'm wondering what what your role looks like a CEO of Public Company. How much time were you able to dedicate to thinking about the future of the business? You never stop thinking about you. Just never stop thinking about And I was a little unique. I guess you know running for Governor three times lows still. CEO that was a very unusual situation. Zabel to do it. It obviously strong support staff. Everybody knew our objectives business goals so it was fairly easy from the from that point but it tastes good quality people and they have to understand the goals objectives as well. I mean you have to have some unique skills as well. I mean even thinking about just being able to compartmentalize as you might be leading board meeting. And then all of a sudden you're on a political campaign how are you able to get in that mindset in each different circumstance. You'd.