Starting Light & New Website!

Today we are unveiling Think Like an Owner's new website at tlaopodcast.com, along with our new cover art. The new site is equipped with a podcast and newsletter wide search function, transcripts embedded on the episode page instead of in new pages, and a cleaner look to the show. I'd love to know what you think!

As a business owner or leader, finding the right balance between achieving profitability and addressing the harder problems in your business can be challenging. By starting with a profitable business model, you can secure a stable cash flow and invest in tackling the more complex issues that come with running a company. Or investing in harder assets. This can work for either new entrepreneurs or new business lines you start.

Starting with a profitable business model allows you to build a strong financial foundation. With healthy cash flow, you'll have the necessary resources to invest in addressing the harder problems that may arise in your business. This includes investing in assets, improving operational efficiency, and solving logistical challenges.

When you have a stable, profitable business model in place, you can afford to take calculated risks and explore innovative solutions to address more complex challenges. Whether it's entering new markets, developing new products or services, or investing in projects, a strong financial foundation provides you with a safety net that enables you to focus on these harder problems without jeopardizing your entire business. It helps ease minds at your business and at home.

A profitable business with a track record of success is more likely to attract skilled employees who can contribute to the growth of your company. And the ability to pay for them. By having a strong team, you can more effectively address the harder problems in your business and find innovative solutions that drive further growth and expansion.

Focusing on achieving profitability and establishing a stable cash flow first sets the stage for addressing more complex challenges in your small business or trade. With a solid financial foundation, you can confidently tackle the harder problems that come with running a company, allowing you to grow, adapt, and thrive in an ever-evolving marketplace. This approach ensures long-term success and creates a sustainable, resilient business model that can withstand the test of time.

Thanks to Everest Brady for his help, writing, and research in assembling this week’s newsletter.

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This Week on Think Like an Owner

Ed and his partner Justin Vogt are former podcast guests from episode 59 where we talked about starting Evermore Industries, an industrial services holding company. Last year they acquired AVUITY, based in Cincinnati, which sells physical commercial office sensors that detect motion, temperature, humidity, and more, along with a data and analytics subscription.

Ed and Alex talk about making the first acquisition in a holding company strategy, working at the intersection of hardware and software, talent planning and sales development, and life running a company while being a new parent. Enjoy!

As a Think Like an Owner listener, there's a good chance you would also enjoy The Fort Podcast hosted by Chris Powers. Chris is the founder of Fort Capital, an industrial real estate private equity firm in Fort Worth, Texas and his weekly podcast hosts guests from real estate, business, entrepreneurship, and more. Alex was lucky enough to meet him at the second Capital Camp and came away thinking he was the most smartest and thoughtful person there. We highly suggest giving his show a listen.

Chris came on to answer the question, "What themes or lessons have you learned from hosting your podcast?"

This Week in SMB Twitter

Think Like an Owner is sponsored by:

Ravix Group - Ravix Group is a fraction CFO, outsourced accounting, and HR consulting firm serving small and large businesses alike. Whether you or someone you know is getting started, searching to buy a business, or building out an organization, Ravix will help on the journey. To learn more about Ravix Group, head to their website and tell them Think Like An Owner sent you.

Hood & Strong, LLP – Hood & Strong is a CPA firm with a long history of working with search funds and private equity firms on diligence, assurance, tax services, and more. To learn more about how Hood & Strong can help your search, acquisition, and beyond, please email one of their partners Jerry Zhou at [email protected].

Oberle Risk Strategies– Oberle is the leading specialty insurance brokerage catering to search funds and the broader ETA community, providing complimentary due diligence assessments of the target company’s commercial insurance and Employee benefits programs. If you are under LOI, please reach out to learn more about how Oberle can help with insurance due diligence at oberle-risk.com. Or reach out to the CEO, August Felker, directly at [email protected].

Interested in sponsoring? Reply to this email and let’s chat.