Episode 135 - Leadership, Culture, and Winning the War on Talent in M&A with Claire Chandler

Justin White is the CEO of K&D Landscaping, a family business that he took over at the age of 25. Under his leadership, the company has experienced significant growth, expanding its revenues, profits, and enterprise value. Justin is also a coach and the founder of The JW Group, where he helps other entrepreneurs and business owners achieve their goals and find fulfillment in their work.

SHOW SUMMARY

In this episode of The Disruptive Successor Show, Jonathan Goldhill interviews Justin White, CEO of K&D Landscaping and founder of The JW Group. Justin shares his journey of taking over his parents' business at a young age and his vision to grow the company to $30 million by 2030. He discusses the challenges he faced, including self-doubt and work-life balance, and the lessons he learned along the way. Justin also talks about the importance of dreaming big, believing in oneself, and continuous learning through reading. He highlights the game-changers in his life, including his wife, Lila, and the importance of surrounding oneself with smart people. Justin also discusses the water management department at K&D Landscaping and the Central Coast Water Summit, which aims to educate the community about water conservation. He emphasizes the need for offensive growth in the face of industry consolidation and the entry of private equity firms. Finally, Justin shares his journey as a coach and his passion for helping others achieve their goals and find fulfillment in their work.

KEY TAKEAWAYS

• Dream big and don't let anyone talk you down from your dreams.
• Believe in yourself, even when others don't.
• Read books to continuously learn and grow.
• Surround yourself with smart people and don't try to be the smartest person in the room.
• Understand your strengths and weaknesses and focus on doing what you love and are good at.

QUOTES

• "Dream big and go for the gold."
• "Believe in yourself because you're stuck with yourself for the rest of your life."
• "Working hard only gets you so far. You've got to combine working hard with working smart."
• "Don't try to be the smartest person in the room. Surround yourself with smart people."
• "Defenses win games. Offenses win championships."

Connect and learn more about Justin White.

https://www.linkedin.com/in/justin-white-35b7a210b/

https://www.kndlandscaping.com/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com

Join Jonathan Goldhill in a riveting episode of Disruptive Successor as he delves into the intricate world of mergers and acquisitions with seasoned expert Kevin Berson. Uncover the common misconceptions, challenges, and success stories behind selling businesses, whether you're a family-owned enterprise or a thriving IT managed service provider. Gain valuable insights and strategic advice to navigate the M&A process effectively.

KEY TAKEAWAYS

• M&A is not a quick process; it requires thorough preparation and can take around 9 months on average.
• The value of a business is not solely based on its potential but primarily on past performance.
• Buyers are interested in EBITDA, not just revenue, and a clear, accurate financial picture is essential.
• Choosing the right buyer is crucial – one who aligns with the company's values and culture.
• Successful M&A involves strategic planning, including transitioning to recurring revenue for added value.
• Family businesses face unique challenges, such as sibling conflicts and differing views on selling.

QUOTES

• "Buyers are not paying for potential; they want to see how the business has performed in the past."
• "The process of selling a business is not a sprint; it's a marathon that requires meticulous preparation."
• "Your business won't trade on a multiple of revenue; it's the multiple of EBITDA that matters most."
• "Identifying the right buyer is like finding a life partner for your business – values and culture alignment are crucial."
• "Success in M&A involves strategic transformations, like transitioning to recurring revenue for increased valuation."
• "Family businesses often face unique challenges, from underpaid family members to disagreements on the next chapter."

Connect and learn more about Kevin Berson.

https://www.linkedin.com/in/kberson/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com

In this episode of the Disruptive Successor, Jonathan Goldhill and Les O'Hara delve into the essential elements of entrepreneurial success, focusing on mastering time management and leveraging automation tools for business growth. Les shares his journey as a serial entrepreneur and the pivotal role of financial education, marketing, and CRM systems in scaling businesses. Discover how prioritizing tasks and delegating effectively can unlock significant potential for business owners.

KEY TAKEAWAYS

• Financial Education: Implementing sound financial practices and understanding key metrics is essential for business growth.
• Marketing Strategy: Building a strong brand image and effective messaging can significantly impact customer acquisition and retention.
• CRM Automation: Utilizing CRM systems streamlines operations, enhances customer interactions, and boosts sales productivity.
• Time Management: Structuring time effectively and prioritizing tasks according to their impact can maximize productivity and business growth.
• Delegation and Leadership: Delegating non-core tasks and focusing on high-value activities enables entrepreneurs to scale their businesses efficiently.

QUOTES

• "Nothing happens until someone sells something. Selling is essential for communicating value and driving business growth."
• "The fortune is in the follow-up. Automation enables consistent and personalized follow-up, fostering strong customer relationships."
• "Mastering time management is a game changer for entrepreneurs, allowing them to focus on high-impact activities and drive business success."

Connect and learn more about Les O'Hara.

https://www.linkedin.com/in/lesohara/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com

In this episode of the Disruptive Successor, Jonathan Goldhill engages in a dynamic conversation with Cody Schneider, an entrepreneur and digital marketer, exploring the journey from traditional family businesses to disruptive digital marketing strategies. Cody shares his experiences transitioning from unsexy industries to creating AI tools for content marketing, highlighting the power of educational content and leveraging digital platforms for exponential growth. From revitalizing local businesses to scaling startups, listeners gain insights into navigating marketing evolution and maximizing impact in today's dynamic landscape.

KEY TAKEAWAYS

• Transitioning from traditional to digital marketing: Embracing educational content and digital platforms can revolutionize businesses, even in unsexy industries.
• Harnessing the power of owned and non-owned media: Investing in both short-term transactional marketing and long-term assets like SEO and email lists creates a balanced marketing portfolio.
• Leveraging platform-specific strategies: Tailoring content to resonate with target audiences on platforms like TikTok, Instagram, and YouTube Shorts can drive local business growth.
• Building trust through storytelling: Sharing authentic narratives and expertise fosters deeper connections with customers and enhances brand credibility.
• Seizing marketing arbitrage opportunities: Identifying and capitalizing on emerging trends like TikTok SEO can yield significant competitive advantages in the digital landscape.

QUOTES

• "We want to spend time where your customer is spending time online...creating content that entertains, educates, and builds relationships."
• "Doubling down on what is working is key to accelerating growth in marketing."
• "Transitioning from survival-driven short-term marketing to long-term investments in owned media assets is essential for sustainable business growth."
• "In today's digital age, trust is built through authentic storytelling and value-driven content distribution."l

Connect and learn more about Cody Schneider.

https://www.linkedin.com/in/codyxschneider/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com

In this episode of the Disruptive Successor, Jonathan Goldhill  delves into the world of acquiring family businesses with Kevin Bibelhausen, Principal at Fruition Capital. Discover the secrets of acquiring stable operating businesses, the challenges faced, and the strategies to navigate the complex acquisition market. From overcoming obstacles to finding the right deals, this episode provides insights and inspiration for next-generation leaders looking to disrupt the status quo in family businesses.

KEY TAKEAWAYS

• Diversify or Decline: Kevin emphasizes the importance of diversifying both customers and suppliers to mitigate risks associated with concentration in business relationships.
• Reducing Owner Dependency: The attractiveness of businesses lies in their ability to operate successfully without heavy dependence on the owner. For buyers, this opens opportunities for active management and growth.
• Macro-Economic Trends: Explore the impact of interest rates, the micro private equity space, and the continuous demand for businesses in the lower middle market.
• Check Size Dynamics: Learn about the sweet spot for deal sizes, the role of syndication with other investment groups, and how strategic partnerships enhance the potential for success.

QUOTES

• "Diversifying your suppliers, diversifying your customers for sure... Being able to get what's happening right now." - Kevin Bibelhausen on adapting to supply chain challenges.
• "It is a family environment, and the same is true for a lot of the entrepreneurs that knock on our door." - Kevin Bibelhausen on maintaining a family-oriented culture in acquired businesses.
• "The business did record numbers in January. We grew 20% over last. I wasn't here for half the month. Like that's what you're looking for when you're a buyer." - Kevin Bibelhausen on the value of reducing owner dependency.

Connect and learn more about Kevin Bibelhausen.

https://www.linkedin.com/in/bibelhausen/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com

In this episode of the Disruptive Successor, Jonathan Goldhill explores the intersection of success, fulfillment, and spirituality with guests Steven D'Angelo, a technology executive turned consultant, and Father Arnold Rosney, a Catholic priest with extensive experience in pastoral care. Together, they delve into the essential components of a fulfilled life, the role of spirituality in success, and the dynamic interplay between personal and professional goals.

KEY TAKEAWAYS

• Celebrate Your Differences: Happy and successful individuals celebrate their uniqueness, fostering strong self-esteem and resilience.
• Silence and Spirituality: Regular moments of silence or meditation contribute to emotional and spiritual well-being, providing clarity and guidance in decision-making.
• Goal Setting with Purpose: Goals, when aligned with a deeper purpose, contribute to a sense of fulfillment. The journey of pursuing meaningful objectives is as crucial as achieving them.
• Interconnected Relationships: The concept of family extends beyond blood relations to include all interconnected relationships, fostering a sense of community and support.
• Divine Dissatisfaction: While appreciating current achievements, it's natural to aspire for more, driving continuous personal and professional growth.

QUOTES

• "Life is a journey with ups and downs; embracing the ebb and flow contributes to true happiness."
• "Spirituality isn't confined to religious beliefs; it's expressed through acts of kindness, mentorship, and contributions to others' well-being."
• "Goal setting with purpose creates a sense of purposefulness, contributing to self-esteem and resilience."
• "Harmony at home begins with recognizing and appreciating the interconnectedness of all relationships, fostering a supportive community."
• "Divine dissatisfaction encourages the pursuit of meaningful objectives, ensuring a constant drive for personal and professional growth."

Connect and learn more about Stephen D'Angelo and their works.

• Stephen’s LinkedIn: https://www.linkedin.com/in/stephendangelo/
• Stephen’s Book: https://www.amazon.com/Single-Day-Peace-Inspirational-Principles/dp/1637460333

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com

In this episode of the Disruptive Successor, Jonathan Goldhill engages in an insightful conversation with Richard Parker, an expert in business acquisition and a managing partner at Diomo. Richard shares his journey from mentoring Ray Dalio's son to his extensive experience in buying and selling businesses. He delves into the critical importance of honesty, radical transparency, and aligning skills with business acquisitions. The episode explores the pitfalls of business buying, the role of experience versus expertise, and Richard's mission to empower aspiring entrepreneurs in making informed decisions about buying businesses.

KEY TAKEAWAYS

• The significance of honesty, radical transparency, and integrity in successful business operations.
• Differentiating between experience and expertise when pursuing business acquisitions.
• The complexities and challenges of evaluating and buying a business, emphasizing the importance of skill alignment.
• The role of previous failures and lessons learned in shaping successful business ventures.
• The absence of meaningful guidance for individual investors looking to acquire businesses and Richard's initiative to fill this gap.

QUOTES

• "We love weaknesses because they really work to bolster people's weaknesses and enhance their strengths."
• "Confuse expertise with experience. It's what you've done in an industry that matters when acquiring a business, not just experience in that industry."
• "The average person would have bought that business. It was only from experience that I was able to see where the skeletons and bodies were."

Connect and learn more about Richard Parker in this link below.

• LinkedIn: https://www.linkedin.com/in/richparker1/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com

Join host Jonathan Goldhill on the Disruptive Successor show as he delves into the incredible journey of Zach Carlin, a former professional athlete who ventured into entrepreneurship. In this episode, Zach shares how his experiences as a fighter and CrossFit competitor shaped his mindset and approach towards business, highlighting the crucial connections between discipline, personal development, and entrepreneurial success.

KEY TAKEAWAYS

• The Power of Discipline and Synergy: Explore how the discipline and focus honed through athletic pursuits directly translate into entrepreneurial success.
• Integrated Approach to Success: Understand the interconnectedness of various aspects in achieving success, whether in fitness or business, emphasizing the importance of holistic growth.
• Adaptability and Resilience: Learn from Zach's journey of navigating setbacks, pivoting between careers, and leveraging opportunities for growth in different fields.
• Personal Development for Professional Growth: Recognize the significance of continuous personal development in enhancing leadership skills, communication, and overall business acumen.

QUOTES

• "Everything has to work together. It's the same in business—every component must align cohesively for success."
• "Discipline creates habits, and having systems for habit formation reduces the need for excessive discipline."
• "Your business can only climb as high as your personal foundation. Always aim to stay ahead and continuously evolve."

Connect and learn more about Zach Carlin in this link below.

• LinkedIn: https://www.linkedin.com/in/zach-carlin-799955228/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com

In this episode of the Disruptive Successor Show, Jonathan Goldhill engages in an illuminating conversation with third-generation family business owner Michael Ghilotti. Spanning over 110 years, the Ghilotti family's construction business journey encapsulates a saga of entrepreneurial resilience, family dynamics, and evolving industry practices. Michael delves into the rich history of Gelati Brothers, chronicling its growth, challenges, and the generational shifts that shaped the company. The conversation explores the complexities of family dynamics within a business, the challenges of succession planning, and the crucial role of servant leadership in steering a legacy forward.

KEY TAKEAWAYS

• Navigating Generational Transitions: Understanding the evolution from second to third generations in a family business and the shifts in mindset, approach, and challenges they bring.
• Facilitated Project Partnering: Exploring a transformative approach to construction projects, emphasizing collaborative goals, mutual trust, and proactive stakeholder engagement for enhanced project outcomes.
• Succession Planning & Leadership Development: The importance of early succession planning, aligning family members' aspirations with the business's future, and nurturing leadership skills in the next generation.
• Challenges of Doing Business in California: Insights into the complexities and regulatory hurdles faced by businesses in California, including labor laws, employee rights, and navigating industry-specific regulations.

QUOTES

• "You can't start that discussion soon enough. Connecting with their vision and role is crucial."
• "When the business runs you and you don't run the business, that's not success." - Michael Ghilotti on redefining success in family businesses.
• "Creating a culture of organizational excellence is vital. A strong team committed to shared goals makes the owner's role easier."
• "California poses challenges from labor laws to industry regulations, making external alliances and advocacy vital for business resilience."

Connect and learn more about Michael Ghilotti in this link below.

• LinkedIn: https://www.linkedin.com/in/michael-ghilotti-8b79a111/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com

In this episode of the Disruptive Successor Show, Jonathan Goldhill in a thought-provoking conversation with Maryann G. Bell about the critical need for prenuptial agreements (prenups) in family businesses. Explore how prenups transcend financial concerns, safeguarding family assets, business continuity, and stakeholders' interests. Discover why planning for generational transitions and implementing family policies can prevent disruptions, protect legacies, and ensure harmony in family-owned enterprises.

KEY TAKEAWAYS

• Policies before It's Personal: Establishing family policies governing ownership, transfers, and governance of family businesses before individual scenarios arise.
• Modernizing Preconceptions: Evolving attitudes toward prenups, driven by increased financial literacy and changing marital dynamics, necessitating clear communication and legally sound agreements.
• Continuous Documentation: Regularly updating legal documents like prenups, estate plans, and postnuptial agreements to align with current family dynamics and protect assets and intents.

QUOTES

• "Policies before it's personal. Establishing clear guidelines for ownership and governance of family businesses should be a priority."
• "Modern times demand modern measures. Evolving attitudes toward prenups reflect increased financial literacy and a shift in marital perceptions."
• "Continuously updating legal documents ensures protection for assets and intents amidst changing family dynamics."

Connect and learn more about Maryann (Gallivan) Bell in this link below.

• LinkedIn: https://www.linkedin.com/in/maryann-bell-1212074/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com