Shari Erdman & Kyle Smith: Rebuilding Trust When the Business Is on the Line
Reell reached its highest revenue ever, but the company was losing money. The difficult decisions that followed tested its leadership, culture, and trust. The downturn exposed problems that had been building for years. Reell’s leaders had to make hard choices to stabilize the business while working to rebuild trust with coworkers and keep the company’s values in view. In this episode of Growing with Purpose, Jean Moncrieff talks with Shari Erdman, Reell’s CEO since June 2024, and Dr. Kyle E. Smith, Reell’s former CEO/President and current board member, about the company’s journey through that difficult period and what helped it find its footing again. Shari and Kyle share why honest communication, clear priorities, and hiring for values mattered to Reell’s recovery. They also reflect on how a company can hold onto its founding principles while its culture and leadership evolve. Jean, Shari, and Kyle also discuss the importance of taking time to reflect, adapting plans as circumstances change, and building a business that can keep making a positive impact for years to come. Key themes include: Rebuilding trust during a difficult business turnaround Making hard decisions to restore the company’s financial health Communicating openly with coworkers through periods of change Hiring and onboarding people who share the company’s values Adapting plans as business conditions shift Navigating the opportunities and challenges of employee ownership Carrying founding values through leadership transitions Building a company that can continue to make a positive impact