Should You Hire a COO?
Published on August 23, 2023
Casey Cavell has a lot of party stories: he dropped out of college to become a professional poker player, tried (and was successful at) buying self-storage facilities and apartment complexes, and finally found his way into the business of baseball. More specifically, he opened a baseball academy for kids ages 5 to 10 that grew to have five sites.
Cavell basically got out of his D-BAT Academy franchise twice. First, he sold 66% of the business for $1.5 million, and then he sold the rest of his stock for $10 million. On this week's episode of Built to Sell Radio, Cavell talks about the lessons he learned from his successes and failures that led to his final exit.
- The pros of buying a franchise and an established business
- How to weigh the risks of putting your name on a lease as a promise
- How to find and get rid of ideas that hold you back
- How to hire a COO (and why)
- Cavell's plan to find and keep top talent is counterintuitive.
- How to keep from getting burned out when you wear too many hats
- Getting the right mix of visionaries and doers
- A suggested aptitude test to help you put together a winning team
- Changing who you are after you leave
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