Entrepreneurship – the next phase – taking over from the founders

Those of us who are founders know that our business becomes like our child. We seed it, nurture it and grow it.  If we are successful, a time comes when we want to step back and do other things. 

In the article on Steve Austen, the founder of a highly successful FinTech claiming 25% of school market across Australia we learnt about Flexischools.  Flexischools provides a range of online services to parents and school children to order and organize school lunches, uniforms, books, excursions, and events.  (They do this for over 1 million children across Australia).

Flexischools was started 17 years ago by Steve, his brother Geoff, and his school friend Chris. All 3 founders have chosen to step back from the day to day running of the company. Rachel Debeck has been appointed to head the organisation. Trained as a lawyer, Rachel started out working in law firms. She moved to in-house corporate roles where she felt happier.  Then, after completing her MBA she worked with Boston Consulting Group’s Digital Ventures business before she took a position of Chief Operating Officer at Mable, a successful startup in the health and allied industries.

“In corporate, I moved through a range of general management roles and found that it was people, innovation, and community, that I loved. I was one of 5 girls (I have 4 sisters) and my parents had a pharmacy, which in some way became the hub of our local community.  All us girls would help in the pharmacy and in the community.  I found it gave me a strong sense of purpose.”

Working in start ups

“I enjoyed working at start-ups and in Mable, it offered me lot more freedom than I’d had in corporate which is way more structured and the ability to make decisions is more limited.  This can be confining.  In Mable, I was able to create my own structure, to innovate and learn.”

“When I was first approached to head up a successful fintech I was not interested.  Then I found out the fintech was Flexischools.  I’m the mother of 3 children and used Flexischools for all of them.  I also helped in the school canteen, and I know how valuable Flexischools was in supporting families to simplify their lives and ensuring that their children were properly nourished at school.”

“In Flexischools, I can bring all the parts of myself together, my role as a parent, my enjoyment of leading people, working in community and working in an innovative tech company.”

“I enjoy working with founders.  I really respect what they have achieved, their experience and their passion.   l love listening to them and learning, then building on that I share my vision and ideas to grow the business”. 

Where to from here for Flexischools?

As someone who has seen Flexischools from many angles – parent user, school canteen client and now CEO – Rachel sees the future of Flexischools is to simplify the life of families.  “There is so much for parents to manage: lunches, excursions, school events” Rachel told me.  “Our services all used to be on different applications.  As a busy mother myself I know how much I value anything that is going to make my life easier – less complicated and more straight forward.”

Rachel’s approach here totally mirrors that of Flexischools’ founders.  From the beginning Flexischools has focused on the customer, their changing needs, and desires.  “In so many families now” Rachel told me “Both parents are working outside the home and life is hectic.  Anything that makes life easier is a blessing.”

Rachel believes that Flexischools can do this by continually updating their technology with the users’ needs in mind and by extending the range of services that the company offers.  To help her here, Rachel has recruited several professionals who bring a new range of skills into the company.  She was delighted to find that the founders supported and encouraged her in this.

Surprises

“I was surprised when I first met the founders to discover that Flexischools was a family run business.  This adds another whole level.  The founders are going to have Christmas and Easter and other celebrations together.  There are many layers to their relationships, and I understand the importance of respecting all of that. In fact, I prefer the dynamic of this environment to corporate. Here  – I can be innovative and creative, and I enjoy the community and cultural aspects of the work”.

Rachel was also surprised to find that the founders and board of directors had deliberately sought to employ a woman as CEO.   “It makes sense” she told me “90% of our users are women – these are the people who normally manage the complexity of the family.”

“When I look at the tech industry over time, there are plenty of examples of women not being supported, but today I am excited about the effort that both men and women are making together to make Tech and start-ups a better place for women. I look forward to continuing that work.”

Another positive surprise for Rachel was that :- “I was fortunate to inherit the foresight of Flexischools’ founders, who built the platform on solid security foundations.” 

“Knowing this was important, especially in the context of the education and schools’ market.  It showed the founders had an incredible understanding of the needs of their customers.  The team and our customers today continue to benefit.” 

“One of the milestones in my first year as CEO was achieving ISO 27001 certification for Flexischools. To me, this was deserved recognition of the founders’ foundational work.”

Where to from here?

Rachel has a big vision for Flexischools, some of which is strategic in confidence.  However, with her focus on making the lives of families with school-aged children easier and more streamlined she sees many avenues for growth.

Rachel’s advice to others taking over the reins from founders. 

1. Listen and learn from the founders – they got the organisation this far – the more you can work as a team with the founders the further you will all go.
2. Respect the ideas and opinions of the founders but also be very clear on your own vision, intention and plans in moving forward.
3. Stay close to your customers, understand their needs, and look for ways of meeting these.
4. A little bit of paranoia about your competitors or who might become a competitor is always a good thing – keep an eye on the market and the external environment.
5. Employ the kind of people who can support your vision and don’t be afraid to bring in skills, experience and insights that are new to the company.
6. Stay flexible – things change quickly.  Stay on top of that and be prepared to change as the need arises
7. Build a strong robust culture with a hearty community focus.  This brings people together and inspires them to give their best, share their insights and ideas and work as a team.

While two of the founders are still on the board, a third has chosen to take a more entrepreneurial, lower-level position so that he can search out and build on new business opportunities as they arise.  They can all step back comfortably knowing that Rachel is wisely taking Flexischools to its next level of success.  

Watch this space.

Written by Margot Cairnes.

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