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Being fired by your best friend was the right call for everyone
Executive overview
Cameron Herold was fired as COO of 1-800-GOT-JUNK by his best friend after growing the company from $2M to $106M in six years. He knew the night before it happened. The right leader for one stage of growth is rarely the right leader for the next.
The firing
- Herold took 1-800-GOT-JUNK from $2M to $106M over six years
- His best friend and CEO pulled him aside on a Thursday morning and said "I think we're done"
- Herold had told the CEO's assistant the night before that he expected to be fired — his gut knew
- Both men were emotional; the decision was still right
The lesson
- The skills that take a company from $1M to $100M are different from those needed to reach $1B
- Making tough people decisions — including firing a best friend — is a core leadership responsibility
- How you do it determines whether the relationship and integrity survive
- The decision was right for the business and ultimately right for Herold's career
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