Think Like an Owner

Latest Episodes:

Mark Sinatra - Going Off-Playbook as CEO - Ep. 35 Oct 27, 2020

Show notes

My guest, Mark Sinatra, raised a traditional search fund with a partner in 2006 after graduated from Wharton and a year and a half later acquired an HR company called Staff One HR. I'll let him tell the full story but there were significant ups and downs running the company including moving the company from Southern Oklahoma to Dallas, managing staff turnover of roughly 85% during that move, and losing their biggest customer who was 30% of their revenue. Despite those downs, the company grew significantly and led to a successful exit, leading eventually to what Mark focuses on today which is investing in search funds.

During the episode, we also talk about hiring great employees, building culture in a growing organization, and advice to prospective searchers. Mark was very open in sharing his experience and I hope you find some great takeaways from his story.

For the full transcript and more information, visit alexbridgeman.com/podcast.

I'm also the founder of The Operator's Handbook, a print publication where small company operators share their insights and ideas for building more effective and profitable companies. Articles focus on process improvement, sales, hiring and training, managing culture, and all responsibilities within operating a small company. If you run a small business and are looking for new ways to grow and improve, subscribe today and join your peers in the endless pursuit of better at theoperatorshandbook.com.

A.J. Gordon - Running a 3rd Generation Family Business - Ep. 34 Oct 20, 2020

Show notes

A.J. Gordon runs Gordon Aluminum in Schofield, WI, a company that was founded by his grandfather, passed to A.J.'s father, and eventually to A.J. himself. The company has a fascinating story told in great detail that includes machines breaking down, closing business lines, multiple recessions, and a lightning strike that set fire to their offices and burned their computers and data, forcing them to start from scratch.

This is a story about a company and family's will to survive, rebuild, flourish, and constantly improve. We also talk about lessons passed down to A.J. by his father and grandfather, what he's teaching his kids from his experience, and the stress and excitement in running a company with a storied history.

For the full episode transcript and more information, visit alexbridgeman.com/podcast.

Jared Henderson - Operating with a Social Mission - Ep. 33 Oct 13, 2020

Show notes

I interview many folks with unique backgrounds and Jared is among the most unique. Jared worked at NASA, then McKinsey, got his MBA at Harvard, then alternated between working at McKinsey and Teach for America, ran for governor of Arkansas, and last year became the CEO of Assist Services. Assist is a Portland based transportation company for underprivileged children to help them get to and from school and other important locations. Jared is leading Assist Services to become a nationwide company, all remotely from his home in Arkansas.

I've been very excited to have him as a guest because of his focus on social missions, building a great team to serve a very vulnerable group, and expanding a storied regional company to a national level. Enjoy the episode.

For the full episode transcript and more information, visit alexbridgeman.com/podcast.

Collin Hathaway - Investing and Operating in Home Services - Ep. 32 Oct 06, 2020

Show notes

My guest today is Collin Hathaway. Collin runs a small micro private equity fund in Seattle, WA called Skylight Capital and has developed a strong core competence in plumbing, HVAC, roofing, and other home services businesses. He also has one of the most interesting stories I've heard of getting into micro private equity. During the episode we talk about his path to Skylight, why he focuses on home services businesses, characteristics he looks for in new acquisitions, and a little bit of his home services operating playbook.

I've been trying to get Collin on the podcast since our first conversation a year ago and I wish this episode could have been longer. Collin is a great, entertaining storyteller and I hope you enjoy his hearing fascinating journey so far.

For the full episode transcript and other information, visit alexbridgeman.com/podcast.

Ryan Lechner & Nico Gimenez - Searching with a Partner - Ep. 31 Sep 29, 2020

Show notes

My two guests for this episode are Ryan Lechner and Nico Gimenez who have raised a traditional search fund together as partners called Bonsai Group and are a few months into their search. I've had searchers with partners on the podcast before, Sam Rosati being a great example, but I haven't had them on the podcast before together. What made this episode particularly fun is Ryan and Nico are lifelong friends and it shows. Finding a partner for a search with aligned values can be very difficult and luckily for them they had a very long due diligence period.

In this episode we talk about why they chose to search as partners, how the role is divided now and might be upon close, how their outreach strategy has evolved, and a company with a very niche monopoly in surfing.

For the full episode transcript and more information visit alexbridgeman.com/podcast.

Brian Vanderheyden - Owner of Richmond Alarm Company - Ep. 30 Sep 22, 2020

Show notes

My guest is Brian Vanderheyden who ran a search from Chicago starting in 2015 and 2 years later in 2017 acquired a company called Richmond Alarm Company in Richmond, VA. Richmond Alarm was founded 73 years ago and Brian acquired the business from the founder's two sons who had taken over the business from the father. During the episode we talk about Richmond Alarm's history and their in-office museum of 73 years of security technology, how he's developed his team over time, the dynamics of the security industry, and why he admires Chick-fil-A. Enjoy the episode.

For the full episode transcript and more information, visit alexbridgeman.com/podcast.

Scott Picker - Founder & Owner of Aspen Creek Landscaping - Ep. 29 Sep 15, 2020

Show notes

My guest today is Scott Picker. Scott was born and raised in Oregon and went to college at Washington State University where he majored in agriculture education and horticulture, before starting Aspen Creek Landscaping in Sherwood, Oregon. Over the last 20 years, Scott has built a 55 employee landscape construction and maintenance company focused on high end residential and local wineries. During the episode we talk about him planning out and building Aspen with his wife from the ground up, how it has evolved over time and how he's had to change his role to suit the company, building a great, customer focused team, succession planning, and his side business raising 160 longhorns on his ranch.

This episode was an amazing look at what running a company looks like on the inside and I hope you enjoy it as much as I did.

For the full transcript and more information, visit our website at alexbridgeman.com/podcast.

Ben Rudman - Investing in Consumer Businesses - Ep. 28 Sep 08, 2020

Show notes

Most of the investors I've had on the podcast aren't interested in consumer businesses, which is precisely why I wanted to talk to a consumer focused investor. Enter Ben Rudman. Ben is the founder of Charis Consumer Partners, a consumer focused independent sponsor, and has a passion for consumer businesses that is hard to resist. In this conversation, we review his time developing his expertise in consumer, why it's such a challenging place for investors and where he looks to invest, some pitfalls and things to avoid in consumer, and what he's learned being an operator.

Whether you care about consumer or not, this episode is a must listen and filled with insights on investing and building companies. Ben is a wealth of knowledge and experience and I hope you find some great takeaways for yourself.

For the full transcript and information about Think Like an Owner, visit alexbridgeman.com/podcast.

Mason Myers - Buffett Inspired Ownership at Greybull Stewardship - Ep. 27 Sep 01, 2020

Show notes

My guest today, Mason Myers, has spent the last 10 years building an incredible investment vehicle called Greybull Stewardship. With Greybull, Mason has acquired 11 portfolio companies with an evergreen fund structure with opportunities for LPs to add or withdraw capital only every four years. This structure gives Greybull a very long time horizon to offer the right owners a great home for their business. Mason's founding idea behind Greybull was to build the firm he believed owners deserved to sell to and one that could get better over time.

Mason is a big fan of Berkshire Hathaway and has applied many similar concepts at Greybull that we spend time going over. We also talk about Mason's time as an operator and how it makes him a more effective investor, how Greybull strengthens over time with its network of owners, operators, and LPs, and how to be a good steward of an owner's life's work.

For the full transcript and more information, visit alexbridgeman.com/podcast.

Joel Blake - Entrepreneurship through Apprenticeship - Ep. 26 Aug 25, 2020

Show notes

My guest today, Joel Blake, has a fascinated story about how he became an owner of a manufacturing sales company called Marketing Technologies. Before acquiring, Joel first worked for the company as an employee before he and another partner took over the business from the two retiring owners. Joel calls this model entrepreneurship through apprenticeship and it's a major topic of our discussion. Joel also, as you can imagine, has a deep appreciation for sales and we talk extensively about how to cultivate a sales mentality and develop the ability to connect with people you're meeting with for the first time. We also talk about his transition to being an owner and working through that process with the previous owners, how owners can prepare their business for transition, what being an owner is like after being an employee, and what he's learned from being a parent of two young children.

I loved this episode. It's been one of my favorite of the podcast so far and I hope you come away feeling the same. Enjoy.

For the full transcript and more episodes of Think Like an Owner, visit alexbridgeman.com.

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