Turning Adversity into Opportunity: Michael Erath's Journey from Manufacturing to Coaching
Description
In this episode of Resilience Unravelled, Dr Russell Thackeray interviews Michael Erath, a former executive in the hardwood veneer manufacturing industry turned business coach.
Michael shares his background in the family business, the challenges of transitioning from domestic to export markets, and the devastating discovery of embezzlement and fraud by his business partner during the 2008 financial crisis.
Despite these setbacks, Michael successfully navigated the company through insolvency and later pivoted to coaching executives.
He emphasises the importance of clear organisational structure and accountability, sharing insights from his book, 'Five Obsessions of Elite Organizations,' which offers practical tools for building resilient businesses.
00:00 Introduction
00:26 Michael's Business Background
02:51 Challenges and Betrayal
04:52 Navigating Financial Crisis
07:04 Rebuilding and New Ventures
08:34 Lessons Learned and Coaching
22:38 Building a Performance-Based Culture
25:57 The Five Obsessions Book
28:31 Conclusion and Contact Information
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