Sep 18, 2023
The idea of a flat organizational structure has gained steam in recent years. On its surface, it may seem like a good idea. However, without a clear leader, people often become confused about which direction to follow.
In
this episode, I take a close look at some of the most common types
of organizational structures. Join me as I explain why the flat org
chart might prevent you from achieving the eight-figure exit you
desire!
This week on The Financially Simple Podcast:
-
(0:40) My soapbox
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(1:40) Why organizational charts matter
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(3:48) Different types of organizational structures
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(14:00) The reason we're here
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(15:00) What got us here won't get us where we want to go
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(16:14) The lack of a clear leader can be confusing
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(19:10) Why you can't have a flat org chart in your RIA
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(25:46) Embrace hierarchy
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(26:27) How does an organization that truly conquers things structure its org chart?
Our Favorite Quotes:
"Having a powerful and scalable organizational structure is one of
the most important ways that you can help solidify the team,
solidify the company, and prepare them for exit." - Justin
Goodbread
"It is impossible to find groups or organizations where all members have roughly equal status and power. Whether researchers study people, dogs, or baboons, hierarchies are evident after just minutes of observation." - Robert Sutton, Professor of Management Science, Stanford University
About The Financially Simple Podcast
If you are looking for a podcast that speaks directly to the
challenges and puzzles of running a business, you’ve come to the
right place. The Financially Simple podcast was built for you. With
over 400 episodes and counting, our host Justin Goodbread covers a
broad range of topics, from starting a small business, to prepping
it for sale, to growing your personal wealth. Justin’s combination
of analytical skills, tough love, and a healthy dose of experience
delivers practical ideas that will benefit business builders at
every stage of their business journey.
If you have questions, or comments for Justin, submit those at:
https://financiallysimple.com/ask-justin/
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Financially Simple is a division of WealthSource Partners, LLC (“WSP”), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC (“WBA”).
This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.