In Episode 26 of #The3WinsPodcast, I sat down with Chad Merrill, chairman at Impact 2:52, which owns and operates 17 baseball & soccer academies across the U.S. and also operates a business and leadership consulting company focused on helping companies remain healthy and strong.
Chad has a long history as a successful entrepreneur, having been involved in creating and leading multiple businesses. He has also served as CEO of Fellowship of Companies for Christ International (FCCI).
Chad and I dive deep into what it means to be a faith-driven entrepreneur and unpack ideas for how to build your business on a solid foundation for long-term success.
If you’re a business owner, you don’t want to miss this episode!
Watch the full episode here. And below are four key takeaways from the episode for easy reference.
Here are a few highlights from Episode 26 with Chad Merrill:
1. The meaning behind “Impact 2:52” and how it relates to the company's mission.
“The name Impact 2:52 was taken from Luke 2:52. It's a passage that I believe is the only time Jesus is referred to as a teenager where it says that Jesus grew in wisdom, stature, and in favor with God and man. And so that verse became kind of a call to where we wanted to take our culture. The name resonated with us because we all would like to continually grow in wisdom and stature and favor with God and man—to build a company that makes a lasting impact.”
2. Cost vs. culture: The challenges that come with a private equity acquirer.
“We sold [a previous company] to some great folks. And they did what they said they were going to do. But they ran a private equity playbook. We built the company to be very values-based and thought we had a really great culture. And, I don't think intentionally, but the private equity firm just did what they did and ran the playbook of: How do you get more efficient? And how do you make people more efficient? Over the next few years, this playbook somewhat dismantled the culture we had built. That it was difficult to watch.”
3. How leadership training can improve employee retention.
“In our case, we pivoted to doing a half-day a week of leadership training. It started with management but soon became open to all because everyone wanted to participate. And what we found was that this leadership training has become a great thing for employee retention. We had seven managers with a hundred percent turnover in Year One. Then, we put this program in place. And we had zero turnover for 21, 22 months among those top folks. And so, from a business standpoint, the training program was really successful. But the part that excited us was this kind of unlocking of how we could pour into the folks on our teams and see them come alive.”
4. The vast impact you have on people’s lives as a business owner.
“It's incredible to think of the number of lives we touch through a business. If you're a business with 10 or 15 employees, you're possibly impacting thousands of people. If you have 500 people in your company, you're probably affecting 10,000 to 15,000 people a year. Owning a business is a tremendous responsibility and a platform to impact the world.”
About the Author: Russell Clemmer is president of Legacy Advisory Partners, an Atlanta, Georgia-based financial services firm that believes that the key to unlocking your company’s full growth potential can be found in The 3 Wins Framework.
To learn more about how to apply The 3 Wins Framework in your business, download our FREE whitepaper, “The 3 Wins: How to Unleash the Collaboration Effect on Profits in Your Company,” here.