Mogens Smed has been referred to as “the most fireable CEO”. In fact, he is an outstanding success that caries this as a badge of honor. He has achieved great success, building himself, his teams, and his companies up from a very painful bankruptcy almost 40 years ago. He has built two multi-hundred-million dollar public companies and he is on the way with a third – Falk Built.
“If there is ever a time for CEOs to demonstrate leadership and strength no matter the consequences, this is the time to do it. There is no time to be selfish. If someone has to burn, then it has to be us!” — @MogensSmed [0:34:02]
In this interview, you are going to hear from an entrepreneur and leader that has paid a heavy price for staying true to his vision and values. Mogens doesn’t waver in his convictions and that has lead some to say he is polarizing. He speaks with such conviction about what it really means to be a CEO and he has the experience to do it.
Mogens shares his incredible background with us. As an immigrant from Denmark, Mogens’ father built a cabinet making business, and the family cemented their place in Calgary. His passion for the city and the province of Alberta is palpable. He gives us insights into his bankruptcy and some of the other ups and downs he has faced throughout his extensive career. While Mogens does not mince his words, his optimistic outlook, along with his strong focus on relationships has contributed enormously to his success. He knows that he could not have achieved his grand vision without a team who shared the mission.
For Mogens, looking at the opportunities rather than the problems not only helped him build a strong company culture but has also made it easier to roll with any punches. Along with this, we also discuss why companies should not rush into going public, and the courage leaders have to show in these difficult times to let their employees know they care.
Mogens shares some insights about the difficulties in taking your company public. He speaks about what companies need to do before they can even consider going public but also how it is one of the best ways to grow if the timing is right.
As someone who has been through hell and back, Mogens Smed’s message is a timely one. We will get through this, no matter what. It just depends on how muddy we are willing to get. Listen to the advice he shared as a speaker at his speech named “Chicken s#!t CEOs” as he is very explicit about the responsibility and actions that speak of a true leader.
For more information about our sponsor, Olympia Trust Company, find their site here.
KEY POINTS FROM THIS EPISODE:
Learn more about Mogens’ background and his diverse business experiences.
DIRTT versus Falk Built: What’s different and how digital is coming into construction.
Mogens' take on relationships and the role that they have played in his success.
Why Mogens is the most ‘fireable CEO’ and insights into being fired from two companies.
The experience of having public companies and some of the drawbacks that come with it.
Mogens’ experience with venture capital and why he welcomes it.
Leading through difficulties: How Mogens leads with the grand vision in mind.
Mistakes are important and a part of the business of being in business.
Why Mogens doesn’t deal with lawyers where possible.
Find out whether Falk will go public and Mogens’ tips for CEOs of public companies.
What companies need to do before they can ever consider going public.
Mogens’ advice for management teams and CEOs in light of the current crisis.
Mogens’ take on bailouts and why small companies are the ones that need help now.
The different places Mogens looks to for leadership inspiration and mentorship.
A final word of advice for CEOs: The time to demonstrate leadership is now!
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