In this episode, we delve into the journey of transitioning from a key executive role to becoming the CEO, especially when your name isn't on the door.
Our guest today is Darin Heyen, the diligent and meticulous CEO of Pearce Construction, a company he bought from its founder, Don Pearce. Darin shares his unique journey from an entry-level project manager to the sole owner of a reputable construction company. He discusses the challenges and triumphs of managing a business where the legacy name remains, and the importance of building a brand-centric rather than person-centric company culture.
Listen in as Darin recounts his relationship with Don Pearce, the intricate process of buying the company, and the lessons learned during a long transition period. Whether you're a key executive considering a buyout or a founder looking to sell, this episode offers valuable insights into making a successful transition and ensuring the longevity of your business.
0:03 - 0:54
Dan Cooper, the host, introduces the podcast and the guest, Darin Heyen, CEO of Pearce Construction. The episode focuses on the transition from being a president to a CEO, especially when taking over a company where the founder's name is still on the door.
0:55 - 3:04
Darin discusses his background, including his 30-year tenure at Pearce Construction, starting as an entry-level project manager and working his way up to become the CEO and sole owner. He talks about the decision to keep the company's name unchanged despite his ownership, emphasizing the importance of brand continuity over personal recognition.
3:05 - 6:13
Darin shares the history of Pearce Construction and his relationship with the previous owner, Don Pearce. He describes Don as a mentor and father figure and explains how their relationship grew from Darin being a project architect to becoming Don's chosen successor.
6:14 - 10:00
Darin recounts the initial conversations about purchasing the company, which began about six or seven years into his career. He highlights the complexities of transitioning ownership in a construction company, particularly regarding liability and maintaining the company’s legacy.
10:01 - 13:37
The conversation shifts to the challenges of negotiating the purchase, especially when dealing with a founder who is emotionally tied to the company. Darin explains how they structured the transition by creating a new company, Pearce Construction Management, to mitigate liability and gradually shift ownership over nine years.
13:38 - 15:29
Darin reflects on the transition process, describing the dynamics of moving from being the second in command to the top leadership role. He discusses the challenges of establishing his authority while Don was still involved in the company, noting the difficulties that arose when people still looked to Don for decisions even after Darin became the majority owner.
15:30 - End
The episode concludes with Darin sharing lessons learned from his experience, including the importance of patience, clear communication, and mutual respect in a successful leadership transition. He also touches on the significance of passion in maintaining a company’s success through leadership changes.
Discover more about Darin and Pearce Construction at pearceconstruction.com, and explore additional resources from Acumen at acumenimpact.com.