Andrew Wilkinson - How Charlie Munger hires CEOs

Watch the full interview with Andrew Wilkinson here: • Entrepreneurial Insigh...
Andrew Wilkinson has built a business empire of 40 companies. A lot of the time, he has to hire a CEO to operate the new business and that process looks different for an established company versus a startup. In this video, Wilkinson explains exactly how he does it.
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ABOUT THE KNOWLEDGE PROJECT
Like the mentor you’ve always dreamed of having, The Knowledge Project shares timely yet timeless lessons for work and life. Past guests include Naval Ravikant, Daniel Kahneman, Jim Collins, Angela Duckworth, Seth Godin, Melanie Mitchell, & Esther Perel.

[@rickpaton7538]

So much wisdom and value in this episode. A gem of this year or any year's episodes!

[@atila5974]

Excellent convo, so much real life wisdom and humbleness from this guy

[@TheMiccoliGroup]

That's a very Canadian approach.
I am Canadian as well but was raised south of the border.
In management I didn't ask for permission. I wrote a business plan and marketing plan with projections for my department, got it approved and ran with it while giving weekly updates.
I can't imagine as a CEO to be micromanaged it's healthy.
However burning $1M for a business lesson reminds me of Pet.com and their ad spend for the SuperBowl. With that kind of spending they went bankrupt.
There's a lot to be said for being thrifty or at least set a percentage of profits for specific purposes (like 5% ad spend, 2% R&D) or identify grants or tax incentives to pay for projects.