E166: CEO Andrew Swiler Shares His Experience Acquiring and Turning Around Lanteria - Watch Here

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About The Guest(s): Andrew Swiler is the CEO of Lanteria, a company that provides HR management software built on the Microsoft ecosystem. He has a background in private equity and entrepreneurship and has a passion for turning around stagnant businesses.

Summary: Andrew Swiler, CEO of Lanteria, shares his journey of acquiring and turning around the HR management software company. He discusses the challenges of managing a remote team and navigating the acquisition process in the midst of a war. Andrew also highlights the importance of employee engagement surveys and one-on-one meetings in managing a remote workforce.

Key Takeaways:

• Andrew acquired Lanteria, an HR management software company, and is focused on turning it around and growing the business.
• He faced challenges managing a remote team, especially during the war in Ukraine, where the company's owners were based.
• Employee engagement surveys and one-on-one meetings are crucial for managing a remote workforce and building trust.
• Andrew plans to raise more capital to fuel the growth of Lanteria and potentially acquire other HR SaaS companies.
• He believes that humans will continue to be the most important part of every business, even with the rise of AI.

Quotes:

• "We knew there were going to be issues, but we gave ourselves a decent cushion with the capital we raised to make those errors." - Andrew Swiler
• "If you think it needs to be said, just say it, because if you don't communicate it, that just compounds." - Andrew Swiler
• "One-on-ones are a great tool for building relationships, trust, and addressing challenges." - Andrew Swiler

Articles: 

How to Successfully Turn Around a Stagnant Business: Lessons from Lanteria

Note: The following article is based on a transcript from an interview with Andrew Swiler, CEO of Lanteria. The article is written in the voice and writing style of the speaker.

Introduction

In today's rapidly changing business landscape, the ability to adapt and transform is crucial for long-term success. This is especially true for companies that have become stagnant and are in need of a turnaround. In this thought-provoking interview, we dive into the world of business acquisitions and mergers with Andrew Swiler, CEO of Lanteria, a leading HR management software company. Andrew shares his journey of acquiring and turning around Lanteria, offering valuable insights and lessons for entrepreneurs and business leaders alike.

The Path to Acquisition

Andrew's journey into the world of mergers and acquisitions began with a background in private equity and a desire to get back into the industry. After traveling and starting an ecommerce company, he found himself in Barcelona, Spain, searching for the right business opportunity. His search led him to Lanteria, a company in need of a turnaround due to the Ukrainian founders' concerns about the ongoing war. Andrew saw the potential in Lanteria and embarked on a journey to acquire and transform the business.

Overcoming Challenges

Acquiring a company in the midst of a war and managing a remote team presented unique challenges for Andrew and his team. However, they were determined to overcome these obstacles and set Lanteria on a path to success. One of the key factors in their success was reaching out to clients even before the acquisition was finalized, building relationships and ensuring a smooth transition. Additionally, they focused on retaining and motivating employees by being transparent about their plans and offering salary increases to show their value.

Lessons Learned

Throughout the turnaround process, Andrew and his team learned valuable lessons that can be applied to any business transformation. One of the key takeaways was the importance of hiring the right people and fostering a culture of ownership and agency. Remote work requires individuals who are self-motivated and take ownership of their work. Regular communication, including daily stand-ups and one-on-one meetings, is essential for building trust and ensuring everyone is aligned.

The Future of Lanteria

Looking ahead, Andrew envisions Lanteria as a leader in the HR SaaS space. He plans to raise capital and invest in the growth of the company, focusing on HR software acquisitions and expanding their product offerings. The goal is to build a strong team and a scalable system that can drive growth and deliver value to customers. Andrew recognizes the importance of humans in every business and believes that HR will continue to play a vital role in the future.

Conclusion

The journey of turning around a stagnant business is not without its challenges, but with the right mindset and strategies, success is within reach. Andrew Swiler's experience with Lanteria serves as a valuable case study for entrepreneurs and business leaders looking to acquire and transform companies. By focusing on building relationships, hiring the right people, and investing in growth, businesses can overcome obstacles and thrive in today's ever-changing landscape. The future of Lanteria is bright, and with a clear vision and strategic execution, the company is poised for long-term success in the HR SaaS industry.

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