A Whole New Ballgame: Jim Crane on Business Transformation

Whether it’s because of new leadership, exogenous shock, or a plain old rut, all companies eventually need to change. While there’s no single template for how to transform your business, you can learn a lot from those who have done it successfully; and there’s probably no better example than Jim Crane and the Houston Astros baseball franchise. When Jim bought the team in 2011, they were one of the worst teams in baseball. Over the course of the next decade, they became one of the most successful. Under Jim, the Astros have won two championships and become perennial contenders. They’ve also tripled their revenue. So how did he do it?On this episode, we’ll explore Jim’s approach to transformation: how he identifies problems, manages his teams, and creates partnerships with multiple stakeholders, all with an eye toward a winning culture. Find out the reason Jim took a hands-off approach to baseball operations and why he invested heavily in the Astros’ charitable foundation. Plus, how Jim applied the same formula to the PGA Tour’s Houston Open.When you transform your business, you have to cover your bases. So join us and get strategies that will help you right off the bat. Highlights:How Jim turned a $10,000 loan into $4B in revenue (1:56)Jim’s passion for sports (4:34)What Jim saw in the struggling Astros (6:02)Diagnosing the team’s biggest problem (7:04)The benefits of a hands-off approach (8:25)Creating a winning culture (11:23)The Community Leaders program and creating external partnerships  (12:59)The Astros become world champions (16:32)The Houston Open: A microcosm of Jim’s approach (17:49)To maintain your edge, you’ve got to keep working (21:02)How to apply these lessons to your business (22:21)Links:Cadence Bank WebsiteCadence Bank TwitterCadence Bank LinkedInJim Crane - Crane WorldwideCrane Worldwide Logistics WebsiteHouston Astros WebsiteAstros Foundation WebsiteHouston Open WebsiteMcKinsey - What is business transformation?Harvard Business Review - Four types of business transformationDeloitte - Six keys to business transformationFeedback:If you have questions about the show or topics you'd like discussed in future episodes, email our producers, sheena.cochran@cadencebank.com or danielle.kernell@cadencebank.com.

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Starting and running a business or managing one isn’t for the faint of heart. You’re balancing internal and external forces in a continually changing landscape. You’re building strategies, and banking on the future – no matter what it holds. This is where Cadence Bank’s In Good Companies comes in. We share our wealth of knowledge, and insights from noted industry experts, to guide you through the forces shaping business today. We’re back for Season 6, and this time, we’re setting our sights on the future of work. We’re asking the big questions, like: What will your career look like in 2030? Or 2050, even? How is ESG shaping the future of companies? And how can we leverage AI to our advantage? We bring together experts from across the board, from Silicon Valley to multinationals like EY, to help you stay on the cutting edge of business. And we get to know those who are building the future of our companies; because at Cadence Bank, we want to hear the human side of every success story. Hosting our stellar range of guests this season is our new host, Ari Marin. He is a Cadence Bank Senior Vice President and family enterprise advisor, whose specialty is consulting with family-owned and small businesses. Ari’s idea of “good company” is being around creative, insightful people with unique and inspirational stories. For Season 6, he brings in his curiosity and ambition to In Good Companies, to lead discussions with our guests, and bring listeners across the U.S. all the information they need, in one place, in under 30 minutes. Ready to launch into the future? Then join us!