How to Buy a $5m Business & Hire an Operator to Run It | Matthew Saskin Interview

Systemization

Matthew Saskin's approach to systematizing operations in his newly acquired towing business was crucial for its success. Initially, the business lacked documented processes, relying heavily on the knowledge stored in employees' minds. Matthew emphasized the importance of capturing this tacit knowledge and creating a structured system to ensure consistency and efficiency 1. He planned to gradually reduce his presence in the business, empowering managers to make decisions independently, which is a testament to the effectiveness of these systemization efforts 2.

It's about capturing that and then making sure we can kind of push it forward.

--- Matthew Saskin

This strategic transition allowed him to focus on other ventures while maintaining confidence in the business's operations.

   

Cultural Shift

Cultural changes played a pivotal role in transforming the towing business under Matthew's leadership. He recognized that improving company culture was more impactful than merely implementing new technology 3. Matthew's empathetic approach helped him connect with employees, understanding their motivations and concerns, which was crucial during the transition period 4.

It's improve, it's, it's, it's attacking the culture with intention and with tenderness.

--- Will Smith

By fostering a supportive environment, he ensured that employees felt valued and motivated, leading to a more engaged workforce and a better reputation for the business.