Pros
Banyan supports the CEOs of their Operating Companies in many different ways. We have access to financial, technical, AI, security, HR, talent acquisition, payroll, (the list goes on) resources-most are not required, just available if we want to use those resources. We have regular meetings with our team leader and financial team to update, communicate, and get support. We have quarterly meetings with our specific vertical to help the CEOs build camaraderie and share problems and solutions which are specific to our types of business. This team has become a very valuable resource to me-both personally and professionally. We also meet annually with the whole group of CEOs for all Banyan companies-hearing directly from other companies about what they are doing is inspiring and energizing! As a brand new CEO I have felt supported, heard, and understood, as well as realizing I was not alone in my un-comfort zone, I was struggling with many of the same issues other new CEOs have. Now, after a few years, I am settling into my role and enjoying being able to help other new CEOs with the transition. When I started I didn't know what to expect, and I was pretty worried about the transition-we had a pretty special company environment and I was concerned I would not be able to maintain that for my employees, I felt like I had to protect them. But the fact has been that Banyan, while making changes, has also worked to protect that "secret sauce" we had-especially the employee culture. They have treated us far beyond fairly in every change and we are coming through the transition with trust and confidence that this new age is a good one-different, but good. Lastly, Banyan has a fabulous hiring process and a talent for finding amazing people with high integrity, strong morals, fun but professional attitudes, with servant or teaching hearts. The quality of people you will find-from the top down-is impressive and one of the best things about being a Banyan CEO.
Cons
No real cons, but here are some lessons learned: If you hear the words, "nothing will change", just laugh. A LOT will change! I think the first year was harder than it had to be because we had been promised that nothing would change. It does change, but change isn't bad, it is just different. Once we embraced change, it became much easier for our whole team. So set expectations of that up front. Also, sometimes it seems like they are telling you that something must be done a certain way, speak up and question if you have concerns about it-either they will help you understand the why, or they will explore the options with you.