Welcome to GreatConversations, a podcast about leadership and life from GreatAmerica Financial Services. Mitch Leahy, Vice President and General Manager for our Office Equipment Group hosts our NextWave series of talks with thought leaders and innovators from across the business world.
In today's episode, we welcome Gregory Jacobs, President of Infomax Office Systems, based in West Des Moines, Iowa. Gregory shares his journey of growing up with the family business, from weekend office visits with his father, to interning during college. Now as President, Gregory navigates new company dynamics after watching the company grow and change. Gregory shares advice for young professionals to be confident, honest, and transparent throughout their journey.
Listen to the full podcast or read the abbreviated interview below!
Mitch: Hello and welcome to GreatConversations with GreatAmerica Financial Services. I’m Mitch Leahy and we are joined today by our neighbor from right down the road in Des Moines, Iowa. Please welcome Gregory Jacobs from Infomax Office Systems!
Gregory: Thank you for having me. I’m excited to be here!
Mitch: I'd like to rewind and go a little further back to talk about growing up with a family-run business. Were you aware of the family business, and did you aspire to be part of it? Or was it expected?
Gregory: I was aware of Infomax and what we do, but it wasn't my dream to run the family business. I was always interested because I grew up around it, often visiting the store with my dad, but it was never a long-lost dream of mine to grow up and sling copiers for a living.
I remember going down to the store on evenings or weekends with my dad. In college, I interned there and got to see a different side of the business from the perspecitves of sales, logistics, front office or working in the warehouse. But even after all my internships, I still didn’t exactly know what I wanted to do after college. My dad never put pressure on me that I was the third generation to join the business after graduation, which I am forever grateful for. We didn’t talk about work until after college when he asked if I had an interest in being a part of the business. He warned me that whatever my decision was, I could not go just walk in and run the business on the first day. He needed me to be passionate about what I was doing and take care of the people I work with. At that point I was still unsure of what I wanted to do and what was coming next, so he just looked at me and said, “Talk to me in five years.”
He wanted me to get some real-world experience and then reevaluate after, which is one of the best things I could have done for myself. There really wasn’t a plan. That’s really my history with Infomax, and I didn’t know that I was going to end up here, but I'm glad I did. It's been an awesome experience. I'm passionate for the business and I love the people I work with.
Mitch: Can you share a bit about the gap between college and where you are now with Infomax?
Gregory: I went to school in Lincoln, Nebraska and after I graduated went to work for Wells Fargo in Omaha, Nebraska. I lived there for six years right out of college. I stayed in touch with my dad over those six years, but I had done some various things with Wells Fargo with my financial background. I did a lot of commercial lending and worked in their investment group for a while. Infomax had an office manager retiring at the end of 2009. So, my dad called me, and we went down to Georgia for a practice round at the Master’s course, I had no idea what was coming. I thought we were just going to the Master's practice round, but that's where we had the discussion about coming to work at Infomax.
At that point, my job at Wells Fargo was becoming a career, it wasn’t just my first job out of college anymore. But my dad told me about the opening and how he thought I would be able take over what the office manager had been doing with financial and backend things. Staying true to his word, he told me again, “I meant it six years ago, you must be passionate, and you have to want to do this. You can't just come in and be the boss's son.”
He also could tell I was content in Omaha with work and living near all my college friends, so he realized it wasn’t an easy decision. Still, he still never put the pressure on me to come and join at any point. This was also back when some of the private equity stuff was going on in the industry, and he had talked to many dealers in the local marketplace and in the Midwest. He just said, “If you do not want to do this when I'm ready to retire, I've got no problem selling to the employees or someone to else.” At the time he certainly had options and suitors, but like I said before, I never had that pressure. I made the decision to do it for myself. In my first two years there, it wasn’t all roses, but I’m so glad I stuck it out because I love my job, the people, and coming to work.
Mitch: You and I got to know each other better in that window where you had come back, around 2010. Eventually, one day it seemed that your dad, Steve, had transitioned out and you moved into that position, which was probably around 2017, right?
Gregory: His last year was 2017. I started in the financial part of the business, which was a strength of mine, but at Wells Fargo, I was a relationship manager, so I was used to being in front of customers and doing a lot of external things. I'm not super aggressive and I don't like hearing no, so cold calling wasn’t a strength of mine. About three years in he told me, “I can tell you understand and enjoy the financial side of the business, but at the end of the day we are a sales organization. I really need you to spend some time in sales with our IT/MNS department to understand the traditional sales side as well.”
After that, I got to know the leaders in the sales department at that time, and began to understand what a deal looks like and what the day-to-day looks like for our sales reps.
In doing that over time, eventually my dad took note and just said to me one day, “I’ve watched your energy and passion for the business, and seeing you work with different departments, and it reminds me of when I was your age here. I have realized that I no longer have that energy anymore. I still have the passion, but it takes a lot of energy to continue to do it every day." At that point we were ready to put a plan together, and it was apparent he had been working on it for a while; it wasn't all of a sudden. He had decided and been thinking on this for a long time. In August of 2017, I officially bought into the company, and he retired at the end of 2017. And six years later, here we are.
Mitch: It's probably felt like a quick six years, but also a long six years. Kudos to him! You interact with a lot of folks who are next generation, whether they're running the business today or intend to in the future, and that transition is not always seamless. I think the predecessor or founder isn't always as willing to step aside and give the reins over to that next wave of leadership, but yet also be there if they need support throughout that transition.
Gregory: Exactly. My leadership team that I took over was mostly his, and obviously, they respected me, but I'm still trying to find my way in developing relationships with them. To your point, Mike Reardon was a big part of helping me and my dad with that transition. He said to my dad, “Steve, you have got to step away from the business and find something to do so you aren’t meddling in it, because every time you step foot in that door, the people you have relationships with are going to naturally come to you. That does Gregory a disservice.” It’s understandable; he’s been in the business since the 70s and suddenly, he’s no longer a part of it. I give my dad a lot of credit because that can't be easy. Still, he gets uncomfortable coming to the annual meetings because he thinks he's going to get in the way, but our annual meeting is combined with a holiday party, so we love having him and it’s important to celebrate the past too. But he is very cognizant of interfering. I can probably count on two hands how many times in the seven years he's been retired that he's been in the office.
Mitch: Good for him. It’s a well-earned retirement.
Mitch: You talked on Mike Reardon for a second there. Do you feel you would be in as good of a spot without Mike? How important is it to have somebody who's outside the business, but also has a tremendous amount of knowledge and energy around leadership and development?
Gregory: Mike's been extremely instrumental. He's been in the industry for a long time and since has retired. However he is keeping touch with the next generation. What's become apparent to me since Mike has retired is his passion for the business, people, and the next generation of leaders.
When I was in high school and through college, Mike and my dad really started working together to gauge if this is something I had interest in and help lay out my next 15 to 20 years. My dad met with Mike first and then I met him within my first month at Infomax in 2010. We were at a conference, and I was like, “Who is this guy getting on chairs, yelling at me and talking crap about Nebraska?!” Mike has an innate ability to develop a relationship with you where you can tell he truly cares and it’s not only a transactional relationship. Even though he's retired and working a little bit more with the next gen group, I still talk with him all the time, so he has been a huge asset to me, dad, and Infomax.
Mitch: It's been interesting; there's a lot of people who wish Mike would take on more clients. But I think the involvement of more third-party coaching and advisement services in business has grown in general. I'm close to it as that's my wife's profession. How encouraging would you be to somebody who's thinking about going outside and leveraging a coach in terms of just helping them, whether it's their own leadership development or it's a problem they're trying to solve within their organization?
Gregory: One hundred precent! You have to find someone that truly cares about you and your business and wants to help you become a better person and leader. I follow your wife Lindsay's content on LinkedIn, and you can tell there's true passion behind wanting to make people better, make better companies, and make better leaders. I couldn't recommend it enough. You go through a ton when taking over that role and your mind can go a million different directions, especially as a new entrepreneur. How do you gather your thoughts and ideas? Then how do you institute them? How do you appreciate the past and what my dad has done, but want to do things a little bit differently and move the company into the future? How do you execute on that all the while making sure your people are taken care of?
Coaches like that can almost act as a business therapist for you because when you start to go down that rabbit hole, they are good at slowing you down and calming you because they have seen it many times before. They can help you collect your thoughts, if you do your due diligence and develop relationships. I consider Mike a confidant and a friend and I could call him about anything. If you can truly get that relationship, I can't recommend it enough.
Mitch: Yeah, I completely agree. The first time I started working with somebody external, I realized I should have done it like three years earlier. It would have been so helpful. As a leader, especially a new leader, it’s easy to feel as though you should have all the answers and be able to grind through on your own, but it turns out that’s the biggest lie anybody new to leadership could believe for themselves.
Gregory: One thing Mike always talks about is behavioral energy. When I have one of those days where I'm racking my brain about certain things, I go home, and I am tired and feel beat up. What’s nice about these business coaches is they are a sounding board, and you don’t have to keep things bottled up, wondering if you have made the right or wrong decision. It has been an invaluable asset.
Mitch: Yeah, I absolutely see that in you and others that have worked with a coach. It's been fun to watch you develop over the past few years because I remember you came to one of the events we'd hosted here at GreatAmerica when you had gotten into the business and kind of talked about how you were working in the background with Jim on the financials a. To see you now lean more into that ownership role has been really cool, and I give you a ton of credit for that.
Gregory: Well, I certainly appreciate it. It has taken me a little bit of time to get comfortable with the idea of leadership, but I am the leader and owner of this company, and with the help of mentors and Mike, I do feel comfortable with where I'm at. I'm learning every day and trying to get a little bit better each day.
Mitch: If you were talking to someone in a similar situation to where you were five or seven years ago, what is some advice that you would give them?
Gregory: I’ve learned lots of things, but when you officially get in the chair and you are running the company, just be confident in your decisions because from day one, your employees can feel that conviction in you. They are looking at you to set the tone and energy level for the business. They're looking for you to make decisions, even if they don’t always agree with what you decide. You also need to give them an explanation of why you are doing what you’re doing rather than just giving them the Iron Fist. I'm not necessarily a people pleaser, but it's been an adjustment for me to be comfortable with the fact that not everyone will always be thrilled with decisions you make about the direction of your organization or things you're doing inside of your organization. Be willing to admit when you’ve made a poor decision and then be transparent. During COVID, I was forced to communicate openly about the company through videos to keep people informed on the state of the company. I've since ecieved a lot of great feedback on how beneficial that really was and I've learned it’s something I should continue to do.
Mitch: That is great feedback. It's crucial to bring people along in the decision-making process and ensure consensus, especially within the leadership team. Without it, the message gets diluted, and execution of the plan suffers.
Gregory: Absolutely, if the leadership team isn't aligned, it trickles down and becomes obvious to everyone else. Communication and being on the same page are vital.
Mitch: That mid-level manager, wherever that's at within any organization, is an incredibly tough spot to be in. Brené Brown explained it as the middle leadership team members are like the staircase between the balcony and the dance floor and they're trying to get people's messaging up for decisions and then get that back down to what's actually happening on the dance floor. That is such a great visual to have and just highlights the importance of ensuring everybody is in lockstep, otherwise, we're doing a dance we know nothing about.
Gregory: Exactly, that mid-level management team has a pulse on the inside of the organization and provides crucial feedback for us. Their alignment with leadership is essential.
Mitch: You’ve shared a lot about lessons you’ve learned. Is there an example of a time you’ve learned what not to do? Maybe an experience you can share where you decided to stop doing something or change direction as it relates to Infomax's leadership and culture?
Gregory: I haven’t necessarily stopped anything specific. My analytical mind hasn't found anything fundamentally wrong with our past practices. Over time, I’d say there’s been a natural evolution as far as what’s important. One thing I would say I do differently than my father, and this is with the help of Mike, is not being afraid to talk about growth plans for Infomax in front of employees at the company. My grandfather started the company, and my dad built it up nicely, but I don't want to have the same size company in ten years. We still value our core principles, but I emphasize growth more than my father did. I want that to become part of our DNA at Infomax. I still want to be a family-owned business and treat the people right; that will never change. This shift might have been a bit of a culture shock, but it's a different vibe that I believe is necessary for our future.
Mitch: That's great. Being intentional about future growth helps people see where they fit into the plan for Infomax in the future.
Gregory: Yeah. I initially failed to explain what was in it for the employees during growth. That’s one thing I think I probably failed on at first. What’s in it for the employees? So, it's been very important for me to talk about, whether it's career paths or personal benefits, what it truly means for the employees. If they don’t see the importance of growth of the business for themselves, why would they listen to me? So, I make sure to explain how our plans impact their professional careers and personal lives.
Mitch: Communication is key. Whether they're part of the leadership team, ownership group, or frontline staff, everyone needs to feel they contribute to the plan. That buy-in is essential for employees to take ownership of the customer experience, which is very different than merely showing up each day and collecting a paycheck.
Gregory: Absolutely. It's challenging, but we work on it daily. Creating a culture where employees feel connected and valued is vital.
Mitch: Absolutely. Well, it seems like they're in good hands. You've got a very intentional purpose, and it's clear to see your passion for the business moving forward too.
Gregory: I certainly appreciate it. I hope the employees feel that way. I never imagined that I would be having this much fun today, and obviously there are stress points, but at the end of the day to me it's fun. On day one when I walked into that office, I would have never imagined feeling as passionate about it as I do. I truly love going in every day, bouncing around the office, and hearing about successes and what’s going on in their lives.
Mitch: I love it. Defintely keep having fun, Gregory, and thanks so much for making time for this conversation today!
This has been Great Conversations, a business podcast from GreatAmerica Financial Services. We hope you found some helpful takeaways from this episode as you're charting your own leadership journey. We'd love to hear your feedback for future episodes. Reach out to us on Facebook and LinkedIn or learn more at our website. Thanks for listening. We'll see you next time for more GreatConversations.