The Cranky Middle Manager Show #077 (mp3 11.2MB 32:51Min)

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This show will be a little different, but I think you’ll enjoy it as much as I did. It combines two themes:

• The idea of owning and managing a professional sports team (feel the testosterone building as we speak)
• What a Venture Capitalist looks for in the management of companies they invest in

Our guest is Kevin Loughery Jr, owner of the Chicago Shamrox- the new National Lacrosse League franchise in Chicago. They start play January 6th. For those unfamiliar with the game, check it out. I grew up playing it in Canada and I’m really excited they have a team here.

Kevin is also one of the principals of KLM Investments, a VC firm that specializes in the entertainment field. He’s an interesting guy and we’ll talk what he expects from his managers in a moment, so even if you’re not a lacrosse- or even a sports- fan, you’ll enjoy our chat.

SPECIAL ANNOUNCEMENT FOR CHICAGO AREA LISTENERS

Let’s do a field trip. If you drop me a line before January 20, 2007 and are interested in going to a Shamrox game, I’ll spring for the tickets and the first round. Meet other listeners and enjoy a great game. We’ll decide on the date when we have people interested. JUST DROP ME A LINE AND TELL ME YOU’RE INTERESTED.

Show Notes
0:00 Welcome to the show. This is for those of us who woke up one day and found ourselves in charge. Mad suckage, indeed. I confess that this show starts a bit self-indulgently but there are universal management lessons here.

Our guest is Kevin Loughery Jr. He’ll talk about the process of building a management team for a professional sports franchise- in this case The Chicago Shamrox. I was a lacrosse player growing up… and have the broken nose to prove it. If you’d like to experience the game yourself, and you’re in the Chicago area- or will be- let me know.

3:06 This episode is dedicated to Chief John Norton of the 6 Nations Iroquois. They invented the game of lacrosse, but as a half-Cherokee, half-Scottish outsider he knew how to bond with a team, come in as an outsider and motivate folks. I mean, he actually fought to win Detroit, MI, which is a paradox we’re not equipped to address here, but he may have been the last man to do it.

4:02 The quote of the week is from Ovid, and it’s all about competition. No manager can be without a healthy (and the key word is healthy) dose of it.
5:05 My lacrosse jones aside, there’s a strong management component to the business of pro sports and the investment in companies. He grew up in the sports world ( his old man was Kevin Loughery Sr). First, learn a bit about the game (not that we’d encourage violence, ahem), then enjoy his take on management. What did he learn from his old man? Well, it ain’t always the high quality of the product….

12:16 What does an investor look for in a management team? Trust and passion. Kevin likes to have incentives for performance- if you want to make real money in management.

14:18 How did they find the President Connie Kowal?His player’s mothers love him, he loves the game and there were no shortage of people looking for it…so what gives? he had experience and was looking for ownership… investors love that attitude. As a manager,it’s tough to make real money unless you’re willing to tie pay to performance- get some “skin in the game”.

20:35 What does a Venture Capitalist look for in a management team? Whether it’s sports or biotech or virtual gaming it’s all about the management. Kevin is a big investor in Second Life

22:35 Investors have to trust their managers and rely on them to tell the truth, even if it’s bad news.

25:45 How much visibility does Kevin as the Money Guy have to the day to day operations? He’s pretty hands-on, especially with sales folks.

28:29 Who does Kevin look to for management advice? His partner, Don Sallee for one, his father for another. Kevin also says the stupidest thing any married man has ever said near a microphone.

Don’t forget to check out our sponsor, www.mindtools.com/cranky. Also, if you’re interested in joining me for a game, drop me a line at wayne@achismarketing.com.

Dont’ forget our Frappr map . Don’t let the weasels get you down……

This entry was posted on Tuesday, January 2nd, 2007 at 1:01 am and is filed under General, Podcast. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.