Show Notes
Many business owners wrestle with understanding the CEO’s role and its connection to ownership. In this episode of Independence by Design™, I sit down with Joel Trammell—a seasoned entrepreneur who has grown and sold two companies to nine-figure exits—to break down what a CEO truly does, how the role aligns with ownership, and how owners can transition out of day-to-day operations. We explore the strategies and frameworks that enable owner-operators to scale their businesses, delegate effectively, and step fully into their ownership role by managing a CEO with confidence.
Joel explains how most businesses grow to the point where almost every decision flows upward to them (the CEO), creating bottlenecks and inefficiency. He shares how to flip this dynamic by pushing decision-making downward through clear ownership goals and operational alignment.
This conversation highlights how critical it is for owner-operators to shift into an ownership role where they can effectively manage the CEO and delegate responsibilities. By clarifying the CEO’s job and implementing a framework for accountability, owners can step out of operations without their business falling apart, reducing anxiety while setting up their organization for sustainable growth.
Joel Trammell is a seasoned CEO, entrepreneur, and educator with a passion for helping business leaders master the art and science of the CEO role. Having built two companies to nine-figure exits, Joel now dedicates his time to coaching, writing, and teaching through his CEO Bootcamp and his platform, Managing the Future. His approach combines practical systems with first-principle thinking, empowering leaders to align their teams, set strategic objectives, and achieve long-term success. Joel’s work is a must for any owner looking to step back or scale their business sustainably.
Chapters:
- (00:00) Intro - Check out Independence by Design™ videos, now on Spotify in addition to YouTube
- (2:00) Revisiting Joel’s framework: A CEO’s job is managing the future, avoiding daily tasks for effective future planning, transitioning from owner-operator to strategic CEO is crucial
- (10:20) Aligning ownership goals and CEO expectations
- (14:00) Balancing stakeholders: consistent value for customers, employees, and shareholders, case study on Boeing
- (17:25) Aligning company mission and strategic objectives is essential. Financial metrics should not overshadow employee and customer satisfaction, building clarity in vision and accountability
- (28:56) Adopting future-focused strategy monitoring techniques, clear goal-setting and expectations, setting quarterly and strategic goals, teams other than just sales should provide future-oriented insights using simple assessment scales
- (33:00) Hiring the right CEO, success in previous roles doesn't guarantee effective CEO leadership, CEO failure rates, curiosity and broad interest over industry expertise
- (41:11) CEO psychology: delegating without guilt, traditional hiring process often overlooks necessary CEO traits
- (46:50) Understanding product and customer is key for CEOs, bootcamps focus on developing essential leadership skills, training for future-focused leadership, the mental model
- (53:50) Role of chief of staff in supporting CEOs, supporting the CEO in project management. CEO peer groups provide necessary support and camaraderie, building CEO confidence and competence
- (59:00) Joel’s goals and lifestyle, final thoughts, getting in touch with Joel
- Rate, comment and share with the owner/operators you know!
Ryan Tansom is a seasoned entrepreneur, speaker, and the founder of Independence by Design™, a transformative ownership framework for growth-oriented business owners. After turning around and selling his family business in an eight-figure exit, Ryan spent over a decade dissecting the lessons learned from his journey. His mission is to help other business owners avoid the pitfalls he encountered by providing them with the tools and knowledge to align their business operations with their personal and financial goals.
With a deep understanding of the challenges faced by owner-operators, Ryan developed Independence by Design™ to empower owner-operators to create sustainable cash flow, grow their company’s equity value, and achieve true independence. He has shared his insights on hundreds of stages, including Vistage, EO, and industry associations, and has reached over 500,000 listeners through his podcast.
Ryan is passionate about helping business owners get unstuck from the day-to-day grind and design a business that serves their life, not the other way around.
Resources:
Website: Managing the Future
Joel Trammell LinkedIn
Twitter: @TheAmericanCEO
Ep. #251 - What Does it Take to Be a Good CEO? with Joel Trammell
Chief Executive Operating System by Joel Trammell
The CEO Tightrope by Joel Trammell
Independence by Design™ Workshop: https://ryantansom.com/independence-by-design-workshop
Independence by Design™ Ownership Coaching: Ryan Tansom’s Ownership Accelerator programs and coaching https://ryantansom.com/coaching
Ryan Tansom Website https://ryantansom.com/
Ryan Tansom LinkedIn https://www.linkedin.com/in/ryantansom/
Ryan Tansom Twitter https://twitter.com/RyanTansom
Ryan Tansom YouTube https://www.youtube.com/@ryantansom
Ryan Tansom 30-Minute Ownership Strategy Call https://calendar.app.google/tsKk7z6ohugDchWq8
Sound Bites:
“The CEO’s job is not to know everything—it’s to manage the future.” – Joel Trammell
“At scale, the CEO’s role shifts from being the expert to empowering others to make decisions that align with your vision and values.” – Ryan Tansom
“If you’re not clear on your ownership goals, how can you expect your CEO or leadership team to be?” – Ryan Tansom
