With over 30 years of global business experience, spanning various industries and markets, I have honed a deep understanding of what it takes to drive organizational success. My career, which includes leading OTC Industrial Technologies as its Chief executive officer, has been defined by a relentless focus on 80/20 growth, cost control, and profitability. Central to my approach has been the application of the 80/20 principle, a concept that has profoundly influenced my leadership style and the development of my Profitable Growth Operating system (PGOS).
The 80/20 Principle in action
The 80/20 principle, also known as Pareto’s Law, posits that roughly 80% of results come from 20% of efforts. This principle is crucial in my approach to business management and strategy. By focusing on the critical 20% of activities that drive 80% of the results, I have been able to streamline operations, boost efficiency, and enhance profitability across the organizations I’ve led.
Aligning Vision and Strategy
In my role as CEO of OTC Industrial Technologies, I direct a complex organization with thirty operating companies, generating $1 billion in annual sales, supported by over 2, 000 employees across seventy sites. By aligning with key stakeholders and setting a clear, compelling vision, I ensure that the organization remains focused on the critical drivers of success. This alignment allows us to harness the power of the 80/20 principle, concentrating efforts on the areas that yield the greatest impact.
Developing Leadership and Management Teams
A key aspect of my leadership is developing strong leaders and management teams. By applying the 80/20 principle, I identify and nurture the most influential team members and empower them to drive key initiatives. This focus not only enhances individual performance but also fosters a culture of excellence and accountability throughout the organization.
The Profitable Growth Operating system (PGOS)
My journey through various regulatory, investor, and media environments led me to create the Profitable Growth Operating system (PGOS). PGOS is designed to help companies achieve profitable growth by leveraging simple, time-tested tools and processes. It emphasizes the 80/20 principle by promoting practices that increase asset productivity, enhance profitability, and improve decision-making at all levels of the business.
PGOS fosters a culture that creates value for all stakeholders—customers, employees, suppliers, and shareholders. By focusing on the most impactful activities and processes, businesses can achieve substantial growth and profitability. Under my leadership, OTC Industrial Technologies has seen a remarkable 43% increase in revenues and a 78% increase in earnings, underscoring the effectiveness of this approach.
Educational and Military Background
My educational background includes a Bachelor of Science in business Administration from Elmhurst University and an MBA from the University of Chicago Booth School of Business. Additionally, my experience as a veteran of the united states Navy has instilled in me discipline, strategic thinking, and a commitment to excellence—values that have been instrumental in my business success.
Conclusion
Applying the 80/20 principle has been a cornerstone of my approach to business leadership and strategy. By concentrating on the most impactful efforts and fostering a culture of value creation, I have successfully guided organizations through significant growth and challenges. The Profitable Growth Operating system exemplifies this focus, providing a framework for businesses to thrive in a competitive landscape. As i continue to lead and innovate, I remain committed to leveraging these principles to drive success and deliver exceptional results.