Collin Hathaway, a micro private equity fund manager, discusses his journey into private equity, focusing on home services businesses. Topics include acquisition criteria, company culture, risk-taking in entrepreneurship, negotiation strategies, and unique business ventures.
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question_answer ANECDOTE
Startup Failure
Collin quit a tech analyst job to join a telecom startup.
The startup failed during the dot-com bust, teaching him resilience.
question_answer ANECDOTE
Finding Private Equity
Unsure of his next step, Collin applied to law school but was advised against it.
A friend suggested a private equity sourcing role, where he learned finance on the job.
question_answer ANECDOTE
First Acquisition and 2008 Crisis
Collin's first acquisition was Bonnie Plumbing, a residential plumbing company.
Three weeks later, Bear Stearns collapsed, marking the start of the 2008 financial crisis.
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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.
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.
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