However, another acquisition didn’t go as well when it bought a company in Indianapolis.
“We learned that just because we’re doing things in Columbus doesn’t mean that translates to a market that is not that dissimilar, but you just can’t replicate it that easily,” he says.
To build a local presence, Continental Office would have needed to put more time and effort into Indianapolis. Instead, it decided to exit. The business also dabbled in furniture for dorms and hotel rooms but found the market was too much about volume, which isn’t a core competency.
Sharfin says these kinds of setbacks and failures help him appreciate what he achieves and learns along the way.
“One of my consulting clients, years ago, said, ‘If you don’t make mistakes, you’re not making decisions,’ and I guess that’s true of my executive team, which is relatively small, and our broader leadership team,” he says. “I don’t want them to make mistakes that crash our company or ruin a client relationship, but I want people to take some risks, make mistakes and learn as they go.”
This, in turn, helps develop the workforce, giving people opportunities to grow and building a strong culture.
Sharfin has also learned from his wife, a doctor who has taught him about the importance of outcomes. He says that organizations need have the outcome in mind, whether they are building a new headquarters, acquiring a business, or are at an inflection point where they need to pivot of make improvements.
“You have to have clarity in terms of what outcomes you’re expecting and what you’re asking your people to do,” Sharfin says. “As long as you clearly define that, let them do it. There’s no need to micromanage — just arm people with the tools, the technology, whatever they need, and let them do great things.
“That’s what great businesses do. That’s what great football teams do in sports, as well, if you have the right plays, if you have the right people in the right positions. And that’s really what we try to do with ourselves.”
Takeaways:
- Play to your strengths; stay valuable to your clients.
- Provide a good experience to all stakeholders.
- Keep the outcome in mind and learn from your mistakes.
The file:
Name: Ira Sharfin
Title: CEO
Company: Continental Office
Born: Brooklyn, but grew up in Columbus
Education: Industrial engineering degree from the University of Michigan
When I was growing up, I wanted to be … Either an architect or a sports announcer
If you could try another job today, what would it be? A sportscaster. I’d want to be doing ESPN College GameDay. That would be awesome — travel around to different college campuses and talk about college football.
What was the hardest management skill for you to learn? Hiring great people and then letting them do what they’re great at. Not that I was a micromanager, and I’m pretty good at it today, but it took me awhile to learn that.
How are you involved with the community? I’m pretty involved with Pelotonia. I’ve been involved from the onset, and we have a strategic partnership with Doug Ulman.
I’m on the board of the Columbus Museum of Art and the Columbus School for Girls. I have all girls, so I’m committed to CSG.
Continental Office tries to have as much impact as it can. That’s how I grew up. I think there’s an obligation, as we’ve grown, to support not just our clients but the community and give our people opportunities to get involved in volunteering, mentoring, whatever it might be.
Where might someone find you on the weekend? If it’s not attending a college football game, I’m probably doing something outside with my wife and my daughters. I have two young daughters and three older daughters. Right now, I’m changing a lot of diapers.
