Transparency is the Only Option for Leadership If You Want Trust with Wayne Patrick - a podcast by Stefanie Krievins
from 2021-04-23T15:33:27
Wayne Patrick is a serial tech entrepreneur whose Hot Mess Hotline conversation is about his lessons learned during the Great Recession in 2008.
His "world fell apart," when he got a Monday morning call losing 10% of his sales.
The firm was in hot water.
At the time, Wayne's company, PDD, was firmly entrenched in the automobile industry.
Wayne's world was falling apart and he knew he had no choice but to trim his budget fast. The automobile industry was imploding and another 15% of his existing business was also at risk.
Wayne was dealing with multiple issues:
- What would he do about losing 10% of the company's revenue? How would they recover from that?
- What, if anything, could he do to not lose the other 15% of his existing business?
- What could he do to hold onto another automotive prospect he had in his pipeline?
They had bet on the automobile industry and concentrated their business on two or three customers putting them at risk.
Wayne and his team were willing to do the really hard, difficult things that you have to do to make it and get through. It could have been easy to throw up their hands in overwhelm but they never quit.
Show Resources:
Wayne Patrick is a mentor and investor in several startup and entrepreneurial companies. He has over forty years of experience in Information Technology including IT Director for a large fortune 500 Financial and Insurance Company. He has extensive experience in the IT Consulting Industry having started and managed his own IT Consulting Company, Professional Data Dimensions to a successful exit. His experience in the software industry includes having developed and led the consulting efforts for a large software firm and having been the COO of two entrepreneurial/start-up software firms that had successful exits.
About AIS
AIS is a proactive IT consulting, infrastructure and security company specializing in strategic solutions that help organizations leverage technology to drive positive outcomes. Based in Indianapolis, AIS was founded in 2012 and works with public, private, and government organizations across the Midwest. Through our service delivery platforms, and our talented professionals, we provide pers
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