Jack Dell’Accio: Lessons I Learned From Last Year To Take Our Organization to the Next Level in 2024

An Interview With Chad Silverstein

True to our mission and values is a competitive advantage

This series aims to discuss the experiences and lessons learned by top executives over the past year, and how these insights are shaping the landscape for change and innovation in 2024. The past year has been a time of unprecedented challenges and opportunities, requiring adaptive leadership and innovative strategies. We believe that sharing these experiences can inspire and guide others in their endeavors to drive positive change in their organizations and industries. I had the pleasure of interviewing Jack Dell’Accio.

Jack Dell’Accio, CEO & Founder of Essentia, has been focused on analyzing sleep for over 20 years! Of most importance to Jack is the impact of restorative sleep in terms of recovery from disease, prevention of disease, longevity, and performance. Jack has worked with some of the world’s top athletes to optimize their recovery and performance.

Thank you so much for doing this with us! Can you share a little about your background and what pivotal moments led you to your current position as an executive?

The key to my executive role came down to three main things. First, I studied marketing, which taught me a lot about what customers want and how to reach them. Second, I grew up in a family of entrepreneurs who always talked business, giving me a deep dive into the entrepreneurial world from a young age. Finally, rather than jumping into the shelter of a family business, I went out to develop different company experiences with big and small companies. I developed in different areas like sales, marketing, and product development. This mix of school learning, growing up in a business-minded family, and getting hands-on in the field set me up for success.

What were the early challenges you faced in your career, and how did they shape your approach to leadership?

Early in my career, I witnessed leadership challenges like navigating team dynamics, handling failure, and adapting to rapid industry changes. These experiences taught me to value diverse perspectives, embrace a growth mindset, and stay agile. As a result, I’ve learned to lead by listening, encouraging risk-taking, learning from setbacks, and constantly evolving strategies to stay ahead. These lessons have shaped my approach to fostering a supportive and innovative team culture.

We often learn the most from our mistakes. Can you share one that you made that turned out to be one of the most valuable lessons you’ve learned?

One significant mistake I made was launching a venture without ensuring it was adequately funded and staffed, particularly at the management level. In the excitement and rush to bring a new idea to market, I underestimated the importance of having a strong foundation in place. This oversight led to numerous operational challenges, from stretched resources to decision-making bottlenecks, ultimately hindering our growth and ability to scale effectively.

The valuable lesson learned from this experience was the critical importance of preparation and resource planning. It highlighted that having a great idea isn’t enough; the infrastructure to support that idea is equally important. This mistake taught me to prioritize building a robust team and securing sufficient funding before pushing forward with new initiatives. It also underscored the significance of strategic planning and the role of a well-rounded leadership team in navigating a company’s growth phases. This lesson has been instrumental in shaping my approach to future ventures, ensuring that both the financial and human capital aspects are well-addressed before taking the next big step.

As an executive, how do you define success, both personally and for your organization? As an executive, I define success on a dual front: personally and for the organization I lead.

Personally, success to me means achieving a sense of fulfillment from my work. This involves not just reaching the goals I’ve set for myself but also knowing that my efforts have a positive impact on others, be it through mentorship, fostering a supportive work environment, or contributing to the community. It’s about continuous growth, learning from experiences, and maintaining a balance that keeps me motivated and engaged with my work and life outside of it.

For my organization, success goes beyond financial metrics and growth rates. It’s about creating a sustainable model that benefits all stakeholders — employees, customers, shareholders, and the community. This involves fostering a culture of innovation, resilience, and integrity where everyone feels valued and motivated to contribute their best. Organizational success is also measured by our ability to adapt to change, meet challenges head-on, and remain relevant in a constantly evolving market. Ultimately, it’s about the legacy we create, the impact we have on our industry, and the difference we make in people’s lives.

In both realms, success is about the journey as much as the destination. It’s defined by the values we uphold, the challenges we overcome, and the growth we experience along the way.

Reflecting on 2023, what was the most unexpected challenge you faced, and how did you navigate it?

Reflecting on 2023, the most unexpected challenge we faced was the acute shortage of available employees, which stretched across many sectors of the economy. This labor scarcity significantly impacted our operations and forced us to rethink our approach to productivity and efficiency.

To navigate this challenge, we leaned heavily on technology to bridge the gap. We accelerated our digital transformation initiatives, implementing more sophisticated automation tools across various departments. This wasn’t just about replacing or reducing the need for human labor but enhancing our team’s capabilities, allowing them to focus on more strategic tasks by automating routine and time-consuming processes.

Embracing technology was not just a temporary fix but a strategic pivot that has set a new course for how we operate.

How has your company’s mission or purpose affected its overall success? Can you explain the methods or metrics you use to evaluate the impact of this purpose-driven strategy on your organization?

Our company’s mission or purpose is deeply ingrained in every aspect of our operations, guiding our decision-making and strategic direction. While it’s challenging to quantify the direct impact of our purpose-driven strategy on our overall success with absolute certainty, we firmly believe that it is a critical component of our identity and a key differentiator in the market. To evaluate the impact of our purpose-driven strategy, we use a combination of qualitative and quantitative metrics. On the qualitative side, we look at employee engagement and satisfaction, as a workforce aligned with the company’s mission is more motivated and productive. From a quantitative perspective, we monitor customer loyalty and brand perception. This involves analyzing repeat business rates and customer satisfaction, which give us insights into how our mission resonates with our customers and influences their decision to continue doing business with us.

Have you ever faced a situation where your commitment to your purpose and creating a positive social impact clashed with the profitability in your business? Have you ever been challenged by anyone on your team or have to make a tough decision that had a significant impact on finances? If so, how did you address and reconcile this conflict?

Yes, we frequently encounter situations where our dedication to our purpose and creating a positive social impact presents challenges to immediate profitability. However, I’ve never been directly challenged on this front by our team, as we share a strong alignment with our core values and the long-term vision of the company. When faced with such dilemmas, we prioritize our mission, believing that sustainable success is rooted in staying true to our purpose. This approach has guided us through tough decisions, reinforcing our belief that long-term value for all stakeholders outweighs short-term financial gains.

Could you list the top five things you’ve learned in 2023, with specific examples of how these lessons impacted your decisions or strategies?

Maybe not learned in 2023, but reminders that came to the forefront this year:

1. Flexibility is key to resilience

2. Importance of employee well-being

3. True to our mission and values is a competitive advantage

4. Leveraging data for decision making

5. The power of listening to our customers

In terms of innovation and adaptation, what’s one change you implemented in 2023 or plan to do in 2024 that you believe will be crucial for the future of your business?

So much of our constant innovation that is implemented spills over from one year to the next. So much that has been initiated in 2023 will be fully realized and implemented in 2024. In a company like ours, we’ll likely be saying the same in 2025.

As a leader, how do you foster a culture of continuous learning and improvement within your team or organization?

Fostering a culture of continuous learning and improvement within an organization requires a deliberate and consistent approach that encourages growth, innovation, and the pursuit of excellence. Here’s how I approach this as a leader:

Lead by Example

Encourage Cross-Functional Collaboration

Create a Safe Environment for Failure

Continuous feedback

Promote a Growth Mindset

By incorporating these strategies into our organizational culture, we not only enhance our team’s skills and competencies but also create a more dynamic, innovative, and adaptable organization that is better equipped to meet the challenges of the future.

If you and I were having a conversation one year from now, and we were looking back at the past 12 months, what specifically has to happen for you to be happy with your progress?

One year from now, to be happy with our progress, I’d like to see:

- Strategic Goals Met: Achieving our key strategic objectives for growth and innovation. — Operational Efficiency: Enhanced processes that lead to better productivity. — Expand our Positive Impact: A measurable impact on our communities.

Meeting these milestones would signify meaningful progress and success over the past 12 months.

How can our readers further follow your work or your company online?

Readers can learn more about our sleep innovation at myessentia.com, and follow along with us on Instagram, Facebook, YouTube, and TikTok. We’re constantly sharing our knowledge and hoping to have everyone sleeping healthier this year!

This was great. Thanks for taking time for us to learn more about you and your business. We wish you continued success!

About the Interviewer: Chad Silverstein, a seasoned entrepreneur with over two decades of experience as the Founder and CEO of multiple companies. He launched Choice Recovery, Inc., a healthcare collection agency, while going to The Ohio State University, His team earned national recognition, twice being ranked as the #1 business to work for in Central Ohio. In 2018, Chad launched [re]start, a career development platform connecting thousands of individuals in collections with meaningful employment opportunities, He sold Choice Recovery on his 25th anniversary and in 2023, sold the majority interest in [re]start so he can focus his transition to Built to Lead as an Executive Leadership Coach. Learn more at www.chadsilverstein.com