Dan Florness, CEO of Fastenal

Dan Florness, CEO of Fastenal

How do you lead an organization you can’t control? Dan Florness has spent 30 years answering that question at Fastenal and the last 11 as CEO of what is now a $9 billion industrial distributor operating in 26 countries. He joined as CFO in 1996, when the company’s run rate was about $250 million. Today, Fastenal does $37 million in revenue a day. It takes about a week to match a full year of the business Dan joined. But Dan never fit the CFO archetype. He ran a manufacturing division, dug into supply chain and product development, and supported national accounts — because he thought about the business not in debits and credits, but in cash flow, customers, and common sense. When the board named him CEO on a Monday afternoon in the fall of 2015 — 12 hours before an earnings call, at the end of a bad quarter — they added one suggestion: get a coach. What he learned from that coach reshaped how he led, and eventually became a leadership course for 500 Fastenal leaders. Recorded in Dan’s final months before his July retirement, this conversation is a masterclass in leading through influence rather than control — from a farm kid whose family land just marked 100 years, who helped build one of the most quietly remarkable growth stories in American business. In this episode, we cover: * Why Fastenal’s founder took a $20 million company public in 1987…four reasons that had nothing to do with ego * What it’s like to run a business “like a checkbook,” and how Fastenal cash-flowed 30%+ annual growth without leaning on debt * The Rule of 72 and why Dan believes “life is just a continuous exercise in math” * The Monday afternoon Dan learned he was the next CEO * What Dan learned about his toughest working relationship * How 240 district leaders make decentralization work at $9 billion scale and why Dan spends 30% of his time in one-on-ones with them * Why employees learn more — and learn ownership — by navigating their own mistakes than from strict corporate dictates * Knowing when to leave: why Dan would rather step out “a year or two or three too early” than stay too long Key Moments 10:06 – The offhand remark to his future wife that led Dan to Fastenal 11:53 – Two years of asking “why”: what Fastenal’s founder saw in him 13:45 – A CFO who wouldn’t stay in the finance lane 15:05 – Running a growth business like a checkbook 18:57 – “Life is just math”: the Rule of 72 21:31 – Four reasons a $20 million distributor went public in 1987 24:03 – The Monday afternoon Dan became CEO — 12 hours before an earnings call 28:06 – “Are you going to do it?” — a blunt wife, a coach, and being 90% of the problem 31:04 – Decentralization at $9 billion: 240 businesses doing $34 million each 36:29 – Why breaking things — and owning them — builds leaders 39:53 – Can most people lead? Vulnerability, arrogance, and why bullies aren’t leaders 42:09 – LDR450: 24 competencies, five categories, and DAC 46:02 – Knowing when to step down: leaving with energy, not on empty Show Notes Dan Florness — LinkedIn: https://www.linkedin.com/in/daniel-florness-90138616/ [https://www.linkedin.com/in/daniel-florness-90138616/]  Fastenal: fastenal.com [http://fastenal.com]  Fastenal — LinkedIn: https://www.linkedin.com/company/fastenal/ [https://www.linkedin.com/company/fastenal/]  Book mentioned — Jim Collins’ new book, What to Make of a Life: Cliffs, Fog, Fire and the Self-Knowledge Imperative: https://www.amazon.com/What-Make-Life-Self-Knowledge-Imperative-ebook/dp/B0FGY8RKCK [https://www.amazon.com/What-Make-Life-Self-Knowledge-Imperative-ebook/dp/B0FGY8RKCK]  Jim Weaver — LinkedIn: linkedin.com/in/jim-weaver-36457418 [http://linkedin.com/in/jim-weaver-36457418]  Real Leadership Podcast: realleadership.oningroup.com [http://realleadership.oningroup.com]  Real Leadership — LinkedIn: https://www.linkedin.com/company/104897916/ [https://www.linkedin.com/company/104897916/]  The Ōnin Group: oningroup.com/clients [http://oningroup.com/clients]

Erica Baird, Executive Director of Global Sales and Service, Cummins, Real Leadership

What happens when an open mic poet, a foster mom to more than 14 kids, and the daughter of Muhammad Ali's bodyguard becomes a top executive in the global heavy industrial sector? You get Erica Baird — Executive Director of Global Sales and Service at Cummins, the Fortune 150 power solutions leader. Erica oversees more than 1,200 employees worldwide across sales, service, customer experience, data center installation and commissioning, aftermarket parts, field service, design engineering, and compliance.  Before Cummins, she spent 15 years at Caterpillar leading initiatives that quadrupled sales and building the business risk and governance framework used by the executive team and board of directors. She holds a degree in mining and mineral engineering from the University of Arizona, sits on the board of the Association of Equipment Manufacturers as chair of the construction sector, and is a member of C200. But Erica's leadership philosophy didn't come from a boardroom. It came from being a biracial kid bullied for being different, from a mother who was disowned for having her, from blue-collar people who raised her, and from a teacher who discovered she could write poetry. It came from being the first Black woman in nearly every role she took, navigating an industry that wasn't built for her, and refusing to leave when it would have been easier to. In this episode of Real Leadership, Erica gets honest about the sponsor who fought for her behind closed doors, the "sidestep" role meant to slow her down that became her global breakout, and the boss who once told her she was "too direct" — and the conversation that changed his mind. She also shares how her engineer's love of structure became the foundation for fostering 14 children, and why she believes the industrial talent of tomorrow has to come from high school trade programs we've spent decades dismantling. In this episode, we cover: * How growing up among blue-collar people shaped the way she leads on the factory floor and in the boardroom * The white male sponsor who told her, "If you keep delivering, I'll keep sponsoring," and how it changed her career * Why she learned to take her power back in meetings — and the line she uses when men repeat her ideas * How a role she thought was a setback became the strategic, global breakthrough of her career * The story of being called "too direct" — and the conversation that flipped the script * How she connects foster parenting and corporate leadership through one shared engine: structure * Why "busy doesn't equal impact" — and the goal-tree discipline she uses with her team * Her honest take on AI in industrial work: "AI doesn't turn a wrench" * Why the skilled-trades pipeline starts in high school — and what industry has to do about it This conversation isn't about engines or equipment. It's about what real leadership looks like when you've had to fight to exist in the room — and you build everyone else a seat once you're inside. Key Moments * 02:37 – Living her mother's dream: how engineering chose Erica * 03:34 – The Muhammad Ali bodyguard story * 05:20 – Why a blue-collar upbringing shaped how she leads * 08:47 – The white male sponsor who said "if you keep delivering, I'll keep sponsoring." * 10:26 – "Thank you, John, for validating what I just said" — taking her power back * 19:47 – The role meant to set her back that became her career breakthrough * 24:49 – Connecting foster parenting and corporate leadership * 29:52 – Called "too direct" — and the conversation that changed everything * 36:52 – The goal-tree discipline: why busy doesn't equal impact * 41:03 – AI, skilled trades, and the future of industrial talent * 46:16 – The high school trade programs we have to bring back * 50:06 – Poetry as healing: the open mic story Show Notes * Erica Baird — LinkedIn: https://www.linkedin.com/in/erica-k-baird/ [https://www.linkedin.com/in/erica-k-baird/]  * Cummins: cummins.com [http://cummins.com]  * Cummins — LinkedIn: https://www.linkedin.com/company/cummins-inc/ [https://www.linkedin.com/company/cummins-inc/]  * Jim Weaver — LinkedIn: linkedin.com/in/jim-weaver-36457418 [http://linkedin.com/in/jim-weaver-36457418]  * Real Leadership Podcast: realleadership.oningroup.com [http://realleadership.oningroup.com]  * Real Leadership — LinkedIn: https://www.linkedin.com/company/104897916/ [https://www.linkedin.com/company/104897916/]  * The Ōnin Group: oningroup.com/clients [http://oningroup.com/clients]

Dan Seidel, Global Chief Operating Officer of HelloFresh, Real Leadership

What does it take to run a supply chain where every input is perishable, every customer is different, and every week the entire operation resets? Meet Dan Seidel, Global Chief Operating Officer at HelloFresh, and one of the sharpest operational minds in the food industry. Dan oversees 36 industrial kitchens and distribution centers across 18 countries, a portfolio of brands that includes HelloFresh, Green Chef, EveryPlate, Factor, Chef’s Plate, and You Foods, and a business that has delivered well over a billion meals.  But his path didn’t start in food. Dan spent more than 15 years at Thomas and Betts, an ABB Group company, as a Lean Six Sigma Master Black Belt and VP of Operations, building the manufacturing discipline that would later carry him through Amazon, Target, and now HelloFresh. When Dan joined HelloFresh in 2024, he bypassed the typical executive onboarding. Instead of boardrooms and investor tours, he spent his first two months on the floor of HelloFresh’s most complex production facility in Illinois, working alongside team members, learning the barriers to their success, and building the trust that would allow him to rebuild the operation from the inside out. In this episode, Dan shares what he’s learned about leading at scale through real transformation — from reducing inventory and going farm-to-box, to cutting first-box delivery time from three weeks to three days, to launching AI-driven personalization that expands customer choice from 35 meals toward hundreds. He also gets candid about what has to change in manufacturing leadership over the next five years. In this episode, we cover: * How a 15-year manufacturing foundation prepared Dan for the unpredictability of fresh produce * Why inventory is the “number-one evil” in lean — and why most operators protect it anyway * How Dan pulled an “undercover boss” on HelloFresh to understand the real barriers on the floor * Why going to the gemba matters more than any KPI dashboard * How HelloFresh is using AI and automation to personalize menus, optimize delivery, and outpace weather disruptions * The “renters vs. owners” framework Dan uses to shape high-performing teams * Why the clearest problem statement is a leader’s most underrated skill * What Dan has changed his mind on recently and what it means for how he leads now This conversation is a masterclass in operational leadership — the kind that makes sense of chaos, respects the people doing the work, and never forgets that the customer is waiting. Key Moments 02:23 – The Scale of HelloFresh: Four US Brands, 18 Countries, a Billion Meals 06:27 – Why Dan Left a “Humming” Target for HelloFresh 12:12 – Bypassing Executive Onboarding to Work the Factory Floor 15:21 – The “Undercover Boss” Moment in Phoenix 17:55 – Inventory Is the Number-One Evil (and the Days of Thunder Analogy) 23:27 – From Steel to Cucumbers: Managing Variability in Fresh Produce 26:28 – How Data Cut First-Box Delivery from Three Weeks to Three Days 31:05 – The AI-Powered Cookbook and the Future of Personalized Meals 38:00 – Why Robotics Should Never Eliminate the Workforce 39:40 – Owners vs. Renters: Rebuilding the Production Workforce 45:06 – Advice for Plant Managers Ready for Their Next Leap 48:42 – What Dan Has Changed His Mind On Recently Show Notes Dan Seidel — LinkedIn: https://www.linkedin.com/in/dan-seidel-6389903a8/ [https://www.linkedin.com/in/dan-seidel-6389903a8/]  HelloFresh — Website: hellofresh.com [http://hellofresh.com]  HelloFresh — LinkedIn: linkedin.com/company/hellofresh/ [http://linkedin.com/company/hellofresh/]  Factor (HelloFresh brand) — Website: factor75.com [http://factor75.com]  Jim Weaver — LinkedIn: linkedin.com/in/jim-weaver-36457418 [http://linkedin.com/in/jim-weaver-36457418]  Real Leadership Podcast: realleadership.oningroup.com [http://realleadership.oningroup.com]  Real Leadership — LinkedIn: linkedin.com/company/104897916/ [http://linkedin.com/company/104897916/]  The Ōnin Group: oningroup.com/clients [http://oningroup.com/clients]

Katie Stratton, Chief Growth & Strategy Officer at Shipt, Real Leadership

Episode Description What happens when a leader who spent a decade inside one of the most influential technology companies in history decides to bring that playbook to the world of same-day delivery? Katie Stratton is the Chief Growth and Strategy Officer at Shipt, the Target-owned retail technology company that specializes in same-day and next-day delivery. Before joining Shipt in 2023, Katie spent nearly 12 years at Meta, joining as the 90th employee in the New York office before the IPO and rising to lead U.S. sales for dining and delivery. Earlier in her career, she honed her craft in the agency world, working with brands like Toyota, Cadillac, and Unilever. But Katie's path wasn't a straight line. A pivotal moment early in her career, a courageous conversation in a toxic work environment, sparked by her mother's advice, opened the door to Facebook and set the trajectory for everything that followed. That same willingness to speak up, take risks, and lead with clarity defines how she operates today. In this episode, we cover: * How a toxic early-career experience and her mother's advice became the catalyst for Katie's entire leadership journey * What it was like to join Facebook pre-IPO as the 90th employee in the New York office — and what she learned from leaders like Sheryl Sandberg and Carolyn Everson * How Shipt is evolving from a startup into a mature growth company — and why grocery and human connection are at the center of the strategy * The story behind Target Circle 360 and Shipt's no-markup pricing model * Why Katie compares AI to How to Train Your Dragon — and how she's training her own "dragon" personally and professionally * Why "clarity is kindness" and "I got that wrong" are the leadership phrases she lives by * How the "threshold" principle and intentional presence help her lead a national business while raising three kids * What it means to be a "tip of the spear" leader — and why people only follow when the path is clear This is a conversation about the moments that shape a leader — the courageous conversations, the career-defining leaps, and the daily discipline of showing up with honesty and humanity. Key Moments 01:47 - What Shipt does and how the preferred shopper relationship works 05:23 - Shipt's inflection point: pivoting from startup to mature growth company 09:07 - Building Target Circle 360 and the no-markup strategy 11:54 - How AI will shape the future of Shipt — and why human connection is the edge 14:44 - The "How to Train Your Dragon" analogy for AI 18:00 - Lessons from nearly 12 years at Meta and leading through COVID 21:40 - Vulnerability as a leadership strength: "We didn't hire you to know everything" 32:32 - The toxic agency experience and her mother's career-changing advice 37:19 - How one conversation led to Facebook — and a career-defining 12 years 41:23 - Leading with kindness: why clarity is kindness 43:23 - The "tip of the spear" leader and machete through the sugar cane 45:15 - Staying energized: thresholds, presence, and intentional balance Show Notes Katie Stratton — LinkedIn: https://www.google.com/search?q=https://www.linkedin.com/in/katie-stratton-a1b4154/ [https://www.google.com/search?q=https://www.linkedin.com/in/katie-stratton-a1b4154/]  Shipt: shipt.com [http://shipt.com/]  Shipt — LinkedIn: https://www.linkedin.com/company/shipt/ [https://www.linkedin.com/company/shipt/]  Target Circle 360: target.com/circle/360 [http://target.com/circle/360]  Wait Until 8th: waituntil8th.org [http://waituntil8th.org/]  Jim Weaver — LinkedIn: linkedin.com/in/jim-weaver-36457418 [http://linkedin.com/in/jim-weaver-36457418]  Real Leadership Podcast: realleadership.oningroup.com [http://realleadership.oningroup.com/]  Real Leadership — LinkedIn: linkedin.com/company/104897916 [http://linkedin.com/company/104897916]  The Ōnin Group: oningroup.com/clients [http://oningroup.com/clients]

Nathan Fulton, CEO of Fulton Technology, Real Leadership

What does it take to turn a layoff into a company? Nathan Fulton had $5,000 and the willingness to see opportunity where others saw scrap metal.  In 1999, he and his wife Jane founded Fulton Technology Corporation as a machine shop serving the textile industry. When that industry collapsed under NAFTA, he pivoted. When hyperscale data centers were built nearby, he pivoted again. Today, Fulton operates precision machining, metal fabrication, and data center infrastructure solutions, with a subsidiary (Altamir Data Solutions) expanding their footprint into AI infrastructure. What's remarkable isn't the scale. It's the philosophy that built it: a belief that saying yes and figuring it out beats waiting for perfect information. That customer relationships trump profit-chasing. That automation is liberation, not job-killing. And that the foundation of all manufacturing—machining—is a pathway to real wealth for anyone willing to put in the work. In this episode, we cover: • How a $5,000 scrap yard flip became the seed capital for a manufacturing company • Why Nathan's mantra—"Whatever your hand finds to do, do it with all your might"—runs everything in the business • Why he's now a free trade advocate • How having a hard time saying “no” became his greatest competitive advantage in the market • Why machining is the foundation of all manufacturing—and why there's unprecedented opportunity for young people in the trades • The case for automation as labor liberation, not job destruction (and why the economics prove it) Plus: His visit to Taiwan to meet Edward Yang, a titan in the machine tool industry, and how that shaped his perspective on global manufacturing. Time Stamps 04:08 - The $5,000 loan moment: Finding scrap robots and seeing their value 07:29 - Industry landscape and the power of machining as foundation 10:51 - Talent gap in manufacturing and training people who want to learn 12:18 - Competitive advantage: Accessibility, personability, solving customer problems 13:45 - The data center pivot: Saying yes before knowing how 17:01 - Automation and humanoid robots—a fallacy about job destruction 21:42 - The Altamir Data Solutions pivot into AI infrastructure 23:18 - Taiwan trip: Meeting Edward Yang and learning machine tool manufacturing 26:15 - Global expansion through European partnerships 35:50 - Future outlook: Manufacturing opportunity in America despite challenges Show Notes Fulton Technology — Website: fultontechnology.com [http://fultontechnology.com] Fulton Technology — LinkedIn: https://www.linkedin.com/company/fulton-technology-corp/ [https://www.linkedin.com/company/fulton-technology-corp/] Jim Weaver — LinkedIn: linkedin.com/in/jim-weaver-36457418 [http://linkedin.com/in/jim-weaver-36457418] Real Leadership Podcast: realleadership.oningroup.com [http://realleadership.oningroup.com] Real Leadership — LinkedIn: https://www.linkedin.com/company/104897916/ [https://www.linkedin.com/company/104897916/] The Ōnin Group: oningroup.com/clients [http://oningroup.com/clients]