Passing the Torch
Onwards and Upwards
Marc’s passing the torch:
In the summer of 2018, I made a commitment to myself to put Management One in a position of sustainability without me as the Founder, CEO, and President. I had survived a life-threatening condition and in the terror of that memorable Saturday night, not knowing what the next 12 hours would look like, I promised myself a new chapter if given the chance.
After being released from the hospital and fully recovered, I set in motion the steps it would take to make that a reality. I was not going to be deterred, not even by the unforeseen events of Covid-19 in 2020. Over the last four years, we built a talented and skilled leadership team including a President, Mike Alic, to relieve me of day-to-day management duties; developed over two years and launched in early 2022 a new state-of-the-art technology platform, Retail ORBIT® V2; created an intensive and highly imagined training program, and set into motion a trajectory of growth. We have now enjoyed 25%+ revenue growth two years in a row. We have had 35 years of success, always practicing what we preached, to run the business out of our own cash flow. All 35 years were profitable.
In January of this year we were in a position to evolve as a company and bring in a new CEO who is younger, more energetic, and someone who I have gotten to know and trust over the last two years. I am happy to introduce you to Nathan Sheth, the new CEO and owner of M1. He embraces our values, core focus and core purpose. He has met all of our team members and our Retail Experts. He has gotten to meet some of our clients through his due diligence. I firmly believe Nate to be the right person at the right time to take over my position and lead M1 into the future.
I am retaining some equity and will be available as a trusted advisor as I have built many relationships over the years that I hope to continue and pass on as the company moves forward.
Today, I am passing on the torch to Nathan Sheth. Taking over the business as it is realizing its best year ever. Nate will assume the top leadership role at Management One. It is with great pride that I introduce you to Nate.
Nate’s accepting the torch:
It is with immense gratitude that I step into this role and responsibility. It has been an enormous pleasure and honor to get to know Marc over the past 2 years, and the rest of the team over the balance of the last 6 months. It is rare to have such transparency in a situation like this, and I’m proud to be involved in such an unusual and integrative process.
I’ve had the good fortune to study many businesses over my career, but it is rare to come across a business like Management One. Its mission, values, and relationships are truly profound. And when we include the extended community of Retail Experts, there is truly nothing like it. I’m honored to build upon the legacy that Marc started, and which the team works so diligently to solidify each and every day.
While it is business as usual, I’m excited to continue the previous pattern of sustained improvement and innovation. We are helping retailers compete in an ever-evolving market, and we need to ensure that they have the very best analysis and planning to maximize their opportunities. We will never stop raising the bar for independent retail, and I’m excited to work with everyone toward that end.
Marc always ended his messages with “Onwards and Upwards” and before we embark on this journey together and continue that message, he wanted to share the origins and impact of that mantra.
Final thoughts… Marc’s personal mantra: Onwards and Upwards
One of my first clients was Rob Lytle. His family owned a Men’s store in Fremont, Ohio. After his football career, he returned to Fremont to participate in the family business and worked to breathe new life into his home town.
Rob broke Michigan’s record for rushing yards. Rob also played for the Denver Broncos. Although he was always in chronic pain he never complained, and when I asked how he played when he was injured, he just said you pick 'em up and put' em down one step at a time, and keep going. Focus on each step.
Over the 35 years of building Management One, there were many times when just about everything seemed overwhelming, and Rob’s words reminded me to slow down and just take one step at a time. That was great advice, from a great competitor. Rob has the distinction of being the first to score a touchdown in both a Super Bowl and Rose Bowl. Sadly, Rob passed away in 2010 and I regret he is not here today for me to thank him personally for his advice. His words morphed into the first part of my signature, Onwards. Keep moving forward no matter the obstacles, with courage and with the people around you.
Upwards really materialized as I was preparing a presentation about always raising the bar. Scott Smith, a good friend, M1 Retail Expert, and overall training Guru, once commented to me on our culture. He said he had previously worked in an environment where complacency set in, but here at M1 that could never happen because we were always looking to be better. Move forward and keep moving up. If not, the competition will surely surpass you. And most likely not from where you think the competition resides.
Together, Onwards and Upwards set the pace, the tone, and the ambition to continue to drive the business forward and up.
Over the last 35 years, I have tried to keep things simple. We have grown from my initial 8 clients to 900 retailers ranging from small mom and pops, to major college stores, pro sports franchises, significant e-commerce retailers, and over 20 verticals including Footwear, Fast Fashion, Luxury, Outdoor, Kids, and Jewelry. We grew all of this with one outstanding product. And as we have grown, at the center of it has always been a relentless effort to be respectful and appreciative of our peers, our people, and most of all the retailers we serve. Working together we built a business by treating each other as adults.
As I look forward to the next chapter of my life, Onwards and Upwards is baked so deep in my DNA, that whatever is next for me will surely be wrapped in those two words and will evolve into both a purpose and a commitment.
I hope that when you remember our experiences together your memories will reflect a relationship of trust, friendship and respect. I hope our time together allowed you to become the person you are and want to be. If we created that opportunity then I can look back and feel my mission was successful.
Maya Angelou said it best and I have said it often to myself, “No one will remember what you did for them, they will remember how you made them feel.”
Onwards and Upwards, Always!