3 Leadership Lessons From a PE-Backed CEO Who Grew a Franchise 70%

Key Concepts

• Resilience & Adversity: The ability to overcome significant challenges and use them as catalysts for growth.
• Vision & Knowing: Maintaining a clear, unwavering belief in a desired future, even amidst setbacks.
• Perspective & Reframing: The power of changing one’s viewpoint to redefine problems and find opportunities.
• Authenticity & Integrity: Achieving success through ethical behavior and a commitment to doing good.
• The Power of Listening: The importance of actively seeking and incorporating feedback from stakeholders.
• Empathy & Leadership: Understanding and connecting with others to build strong teams and foster success.
• Immigrant Experience: The unique challenges and opportunities faced by immigrants building a new life.
• Fractional CFO/Entrepreneurship: The journey of building a business from the ground up and navigating financial complexities.

The Unexpected CEO: From Gas Station Cashier to Billion-Dollar Leader

This conversation details Sharon Bazadi’s remarkable journey from a teenage immigrant arriving in the US with limited resources to becoming the CEO of a billion-dollar franchise enterprise. The discussion, centered around her new book The Unexpected CEO, explores the principles and mindset that fueled her success, emphasizing resilience, vision, and a commitment to ethical leadership.

Early Life & The Loss of “Life as Known”

Sharon Bazadi’s story begins with her departure from Iran during a period of political upheaval and instability. At 17, she left behind her family, friends, and a familiar life, facing arrest twice as a teenager simply for existing under the new regime. This departure, described as a loss of her “precious life,” instilled a profound sense of insecurity and the realization that safety could not be taken for granted. Arriving in Turkey with limited funds and no support system, she faced a critical juncture: succumb to despair or embrace hope. She chose the latter, resolving to build a new life despite the overwhelming odds. This initial experience forged a core belief in self-reliance and the power of hope.

From Gas Station to EY: Building a Foundation

Bazadi’s early years in the US involved working the graveyard shift at a gas station, often behind bulletproof glass in a dangerous neighborhood. Despite the challenging circumstances, she maintained a vision for a different future. Remarkably, she even printed business cards identifying herself as a “CEO” while working as a cashier. Recognizing the importance of financial literacy, she pursued an accounting degree, viewing it as the “language of business.” This led to an internship and subsequent employment at Ernst & Young (EY), a “Big Eight” accounting firm. While excelling at EY, she realized that auditing wasn’t her ultimate goal, prompting her to seek experience in operations and broader business leadership.

Navigating Corporate Roles & Entrepreneurial Leap

Bazadi left EY to work for a client, gaining valuable experience in loan servicing and operations. She then transitioned into a CFO role, demonstrating her financial acumen and leadership potential. However, she felt compelled to pursue her entrepreneurial ambitions, leading her to establish a “fractional CFO” practice – providing CFO services to multiple companies. This venture ultimately connected her with the franchise company that would become the focus of her career for the next 20 years. This was a significant risk, as the concept of a fractional CFO was not widely established at the time.

The Power of Listening & Leading Through Recession

Upon becoming CEO, Bazadi faced the challenge of leading a company backed by private equity. She recognized the importance of aligning the organization around a shared vision and understanding the needs of all stakeholders. Instead of immediately implementing top-down strategies, she embarked on a “listening tour,” engaging with employees, franchisees, and customers to gather insights and identify opportunities. This approach proved crucial during the 2008 Great Recession, when the home services industry faced significant headwinds. By actively listening to franchisees and adapting the company’s offerings and marketing strategies, Bazadi steered the company through the crisis, ultimately emerging stronger and more resilient. She emphasized that adversity is a “superpower,” fostering growth and innovation.

Pricing Strategy & The Importance of Value

Bazadi highlighted the importance of strategic pricing, noting that increasing prices, counterintuitively, often enhanced the perceived value of the franchise. She emphasized the need to understand the company’s unique value proposition and price accordingly, rather than simply competing on price alone. This approach reflected her broader philosophy of focusing on quality and customer satisfaction.

The Lonely Path of Leadership & Maintaining Vision

Bazadi acknowledged the inherent loneliness of the CEO role, emphasizing the need for self-reflection and maintaining a clear vision. She developed practices like meditation and journaling to stay grounded and focused amidst the pressures of leadership. She stressed the importance of “owning” one’s successes and believing in one’s ability to achieve ambitious goals. Her ability to maintain a long-term vision, cultivated since her days as a gas station cashier, was a key factor in her success. She recounted a story of telling her son that she always believed she would become a CEO, even while working at the gas station, demonstrating the power of unwavering self-belief.

Defining Success & Impacting Others

Bazadi’s journey underscores the importance of defining success on one’s own terms and prioritizing integrity. She rejected the notion that success requires compromising one’s values, emphasizing the power of “doing well by doing good.” Her current focus is on leveraging her experiences to inspire and empower others, sharing the principles that guided her journey through writing, speaking, and mentorship. She encourages individuals to identify their strengths, embrace challenges, and believe in their potential to create a meaningful impact on the world. She believes that adversity is not a destiny, but a stepping stone to growth and fulfillment.

Notable Quotes

• “I didn’t know it then, but I essentially lost my precious life when I left Iran.” – Sharon Bazadi, reflecting on the sacrifices made when immigrating.
• “Adversity is your superpower.” – Sharon Bazadi, emphasizing the growth potential inherent in challenges.
• “You heal by moving.” – Sharon Bazadi, highlighting the importance of taking action and persevering through difficult times.
• “What you choose, what you believe you can bring to the world is what you bring to the world.” – Sharon Bazadi, underscoring the power of self-belief and intentionality.

Conclusion

Sharon Bazadi’s story is a testament to the power of resilience, vision, and ethical leadership. Her journey from a challenging immigrant experience to becoming a successful CEO demonstrates that success is not solely determined by privilege or circumstance, but by one’s unwavering belief in oneself and a commitment to doing good. Her emphasis on listening, empathy, and embracing adversity offers valuable lessons for entrepreneurs, leaders, and anyone striving to achieve their full potential.