The Family Didn’t Trust Each Other, Let Alone the Buyer.

Every Move Felt Like Navigating a Minefield.

Building an electric car start-up: 9 new episodes

Building an electric car start-up is not for the faint of heart. Picture standing at the edge of an industry known for brutal competition, staggering costs, and relentless innovation. Then imagine stepping into it, not as a seasoned automaker but as an outsider. No connections. No experiences. No decades of industry knowledge.

This is exactly where Richard, a former MBB consultant and StrategyTraining.com Case Coaching Alum, found himself. And he came to us to see if we would join forces with him in pursuing this goal.

We did. And we’ve captured every single step of this audacious journey for you.

Nine new episodes (within Part 3) of the Building an Electric Car Start-Up program were just released. The stakes are high; the challenges are insurmountable for most. To move this venture forward, an uncommon level of problem-solving and business strategy thinking is required.

The Stakes:
Electric vehicles may very well represent the future of transportation, but they also embody some of the toughest questions in business:

How do you build a brand from scratch in a field dominated by giants like Tesla?
Can you align groundbreaking technology with mass-market appeal?
What’s the path from an idea to a product that not only works in the short term but works in a sustainable way?
For Richard and us, co-building this business together, these are not abstract questions. They are existential ones.

At every step, the obstacles are monumental. But in this particular part of the program, we will zoom in on roadblocks we had to deal with when we got to a point where we already raised 20 million dollars, decided to acquire an auto manufacturer, found a suitable acquisition target, and commenced negotiations. The key challenges we faced at this step of the journey included:

1. A Fragmented Family Business:
   The acquisition process began with the intent to secure a struggling, family-run automotive company, a business mired in disputes, poor record-keeping, and mismanagement. Every family member wanted a piece of the pie, and some actively sabotaged operations to get their way. Suppliers were alienated. Production lines stalled. Relationships fractured.
2. Negotiating with Ghosts:
   Stakeholders emerged from every corner: stepchildren, estranged cousins, even family members the owner hadn’t spoken to in years. Each one with demands, grudges, and strategies to tilt the deal in their favor.
3. When Dysfunction Meets Logistics:
   Procurement staff retaliated by halting essential orders. Suppliers, burned by the chaos, reallocated their production capacity to competitors. For a business that focused on creating customized high-end cars, a single missed shipment meant months, or even years, of setbacks.
4. Auditors That Miss the Mark:
   Adding insult to injury, the audit process was a disaster. Despite working with a reputable firm, the auditors team missed critical gaps in financial records and commingling of assets. A lack of basic checks plagued the due diligence. It felt like navigating a ship with no map, no compass, and holes in the hull.

Were we able to persevere?

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Why This Matters:

Most of us won’t launch an electric car company, but we all face challenges that test our resolve, ingenuity, and endurance. This program is not really about the auto industry. It’s about creative problem-solving, leadership, and strategy distilled from the frontlines of one of the most complex start-up journeys you could imagine.

Through these nine new episodes, you’ll gain:

• An unfiltered look at decision-making under pressure.
• A stronger ability to think like a strategy partner, no matter your field.
• Lessons that go beyond theory to show you the reality of implementation.

What’s at Stake for You?

Here’s the truth: watching this program can change how you see business. And it can change how you think about business.

Do you have the mental discipline to navigate uncertain waters? To see opportunity where others see only problems? To not give up where most people would.

This is an invitation to challenge yourself.

Let’s face it: success isn’t handed to you and me. If it was, everyone would be successful.

It’s built one decision at a time. For example, a decision to invest in building the type of rare skills we teach on StrategyTraining.com.

Giving timestamps for 9 episodes will make this email way too long. So here are timestamps just for the last episode released so far (episode 25) to give you a taste of what is in store for you:

– Leveraging relationships with the owner (Episode 25, 0:40)
– Challenging family dynamics (Episode 25, 02:00)
– Classic torturous issue family businesses face (Episode 25, 04:30)
– Creating a family committee (Episode 25, 06:20)
– M&A discussions led to production problems (Episode 25, 06:56)
– The scabbles didn’t end there (Episode 25, 07:49)
– How the family tried to sabotage the deal (Episode 25, 08:50)
– What sabotage of the deal efforts by the family members allowed us to do (Episode 25, 10:05)
– Family members taking steps to destroy the business (Episode 25, 11:00)
– Unique situation where shareholders have operating roles as well (Episode 25, 11:30)
– Dealing with accounting issues and liabilities (Episode 25, 13:00)
– Poor performance of the audit team (Episode 25, 14:30)

Get Started

If you are a member, access the new 9 episodes here or click the button below.

Building an Electric Car Start-Up (Insiders & Legacy Members)

Want Personalized Help?

In addition to the powerful programs, there is also executive coaching program for more senior clients within our community, where you can work personally with Michael and me as you are pursuing your goal. This allows you to receive our mentorship and coaching as you develop your critical path and execute along the critical path.

I often hear from members of the FC community that they did not apply for executive coaching with us because they are not as successful as some of our clients. I personally encourage you to apply. If you know my story and if you know us, it will not be a surprise to you that what we are looking for when selecting clients is not your level of success but the kind of person you are and what your intentions are as it relates to using the power and influence once you get it.

If you take a look at our 1-year long executive coaching program, where we work very closely with each client (1:1 in very small groups) as we progress from week to week towards particular goals, every client within a 1-year program is a prior coaching client. And some of those clients started with us while at university and we had the honor of being their guide throughout their entire career journey. Email [email protected] to apply.

And to access our online video and audio training programs enroll below (scroll down to membership options and select Insider or Legacy).

www.strategytraining.com

As the year draws to a close, it’s the perfect time to pause and reflect on your progress. Are you where you envisioned yourself? If not, it may be time to recalibrate for the year ahead. Persisting with the same strategies while expecting different outcomes rarely leads to meaningful change.

At StrategyTraining.com, we provide comprehensive training and expert guidance to accelerate your personal and professional growth, helping you realize your potential far beyond what can be achieved without our help.

– Our Strategy Control Room (Advanced) resources with premium books, studies, proposals and centers of excellence (our giant reading library) is a powerful reference and reading library.
– Our expansive library of video and audio training focuses on teaching you in-depth the kind of skills very few people in the world have.
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– Our executive coaching program for selected clients is an opportunity to work closely with Michael and me as you are working towards your goal.

All these products and programs work together to equip you with the resources and support to design a transformative and cohesive plan for your career and life, and execute it effectively.

Our structured approach enhances your decision-making, uncovers and amplifies your unique strengths, helps you build a unique set of skills that almost no one has, and delivers the clarity needed to identify opportunities and tackle challenges with confidence. These resources are a blueprint for achieving outcomes that would be difficult, if not impossible, to accomplish without working with us.

The upcoming year holds tremendous potential, but realizing that potential requires deliberate action and expert guidance. Our products and programs are designed to guide your transformation, but the first step starts with you.

Take this opportunity to invest in your future. If you have questions or need assistance, we’re here to help. Reach out anytime at [email protected]. Let’s make the year ahead your most impactful yet.