Ep. 252: Rick Watson - Cultivating Organizational Trust

Welcome to Count Me In! Join host Adam Larson and special guest Rick Watson, CEO of Protection Point Advisor, founder of the National Referral Network and author of A Firm Worth Building. They dive into inspiring stories and insights on leadership, company culture, and business success. Get ready for engaging conversations and valuable business wisdom from industry experts like Rick, who shares his journey and expertise in changing company culture. Embrace the CEO mindset and gain powerful leadership tips with Count Me In!

Full Transcript:
< Intro >

 

Adam:            Welcome back to Count Me In. I'm your host, Adam Larson, and today's episode is all about company culture. Our guest, Rick Watson, CEO of Protection Point Advisors, founder of the National Referral Network, and an author, is a seasoned leader with a wealth of experiences.

 

He discusses his journey from working with a large corporation to starting his own firm, and the challenges he faced along the way. We explore concepts like trust compression, the importance of storytelling, and edification and empowering a team. With practical examples and real-world experiences, Rick provides valuable strategies, for creating a purpose-driven, successful organization. Get ready to be inspired and motivated, as we dive into the power of culture and leadership in this insightful, engaging, conversation with Rick Watson.

 

< Music >

 

Rick, I'm very excited to have you on the Count Me In podcast, and excited to be talking about leadership, and just some of your journey, as well, and what you've learned along the way. And, maybe, we can start off by what inspired you to start your own firm? It's not an easy task to do that. It's not something that people can do lightly. How did you assess your readiness for this entrepreneurial journey?

 

Rick:               It's funny. I, actually, wanted to be tested. I wanted to be weighed and measured, that was true. And there was a point where I was working for a corporation, every year they would adjust my sales territory, and that drove me nutty. And, so, I would do well, and they would restrict it, if I didn't do as well, they'd increase it. It was really weird. They knew what they wanted to pay me.

 

So I didn't start going down that road of starting my own firm. But I was happy to work with somebody else, I guess, is what I'm trying to say. I worked with a partner for a long time, and I liked playing second fiddle because, then, I didn't have to have all the attention on me. I could actually just do the work. And there was a point where that partnership fell apart and I had to step up. And I really like being in charge today, I like being the CEO. But it was a transition that took a few years to get there.

 

Adam:            I can only imagine the transition, especially, if you've always been a company person. You've always not have to make all the decisions. There's a lot of weight that comes with having to make the top-level decision, the top-level strategy. How did you handle adjusting to that weight?

 

Rick:               Yes, it's funny that you say that. So I always think of someone will be talking about their kid's school, and now their kid just graduated from whatever, and I'm paying for that. Well, I know that in the end analysis, it's our efforts, my decisions, that make that go badly or go well. And you're right, it's an absolute amount of weight all the time.

 

On the other hand, I like taking care of people. And, so, you do that at home, you take care of your family. And, yes, I suppose it's more weight, it's more responsibility, those people depend on you. And, so, I just have a really big family, it seems like, anymore.

 

Adam:            Yes, I like that. Seeing them as your family because it's no longer just numbers or people who work for you or say, "Oh, I have this many people." It's like, "No, that person has a name. They have a family themselves, they have a life, as opposed, to just looking at the bottom line."

 

Rick:               Yes, I think that there is a management school of thought that says that's a bad idea. I disagree. I think that loyalty and culture is part of a company, and that you don't have to turn over people all the time… I just think that there's a school of thought that you can turn over people, and I think that if you don't turn over people, they're so much more profitable. It's a good business decision to hold on to people, and part of that is to build culture and relati