Why Good Execution Always Beats Big Ideas
In this episode of The Tech Leader's Playbook, Avetis Antaplyan interviews Alfred Miranda, a seasoned CTO with extensive experience across various industries including cannabis, fashion, and technology. They discuss the importance of diverse industry experience, the challenges of adapting leadership styles, and the pitfalls of traditional industries in adopting technology. Alfred shares valuable insights from his time at MedMen, a rapidly growing cannabis company, and emphasizes the need for effective hiring strategies in a high-budget environment. The conversation highlights the significance of planning, execution, and the necessity of showing tangible results in technology investments. In this conversation, Alfred Miranda discusses the challenges faced by MedMen in the cannabis industry, emphasizing the importance of focus and methodical growth. He contrasts leadership with mere experience, highlighting the need for genuine investment in team members. The discussion also covers the balance between attention to detail and execution, the evaluation of technology investments, and the significant costs associated with technology. Miranda shares insights from the book 'Good to Great', stressing the importance of calculated risks and strategic planning in achieving business success.
Takeaways
- Diverse industry experience brings fresh perspectives.
- Proper planning and execution are key to success.
- Flexibility in team members is crucial for innovation.
- Communication and clear objectives are essential in leadership.
- Technology should be viewed as a profit center, not a cost center.
- Short-term wins help build confidence in technology investments.
- Understanding the industry is vital for effective leadership.
- Hiring motivated individuals can lead to high performance.
- Trusting instincts is important in decision-making.
- Adapting leadership styles is necessary for different industries.
- Leadership is about investing in your team, not just experience.
- Attention to detail can lead to analysis paralysis.
- Technology investments must align with business goals to avoid distractions.
- Calculated risks are essential for business success.
- A goal without a plan is just a wish; planning is crucial.
- MedMen serves as a cautionary tale for startups.
- Not all founders are suited to be CEOs; sometimes a seasoned leader is needed.
- AI has the potential to revolutionize industries, but must be implemented thoughtfully.
- Understanding the true costs of technology is vital for strategic planning.
Chapters
00:00 Introduction to Alfred Miranda's Journey
02:59 The Importance of Diverse Industry Experience
05:59 Adapting Leadership Styles Across Industries
12:01 Challenges in Traditional Industries and Technology Adoption
17:58 Lessons from High Burn Rate Companies
24:13 Hiring Strategies in a Blank Check Environment
28:20 Navigating Challenges in the Cannabis Industry
36:24 The Essence of Leadership vs. Experience
39:32 Balancing Attention to Detail
43:10 Evaluating Technology Investments
47:25 Understanding the Cost of Technology
51:04 Insights from 'Good to Great'
Alfred Miranda’s Social Media Links:
