Think Like an Owner Trilogy Search Series Ep.2: Ryan Turk - Ep.110
My guest on this episode is Ryan Turk. Ryan raised a traditional search fund in March 2020 and closed on Radiation Detection Company only nine months later in December 2020. Prior to searching, Ryan served in the Navy aboard nuclear submarine USS Michigan as an officer managing their onboard nuclear power system.
Ryan used this experience to launch his impressively short industry focused search. Ryan and I talk about the pros and cons of being from the Navy prior to becoming a CEO, his thoughts on industry focus versus broad searches, establishing credibility and building relationships in a new team, and how his board has been helpful along with other advice to folks working with boards. Enjoy.
Links:
Your Money or Your Life by Vicki Robin
Topics:
(5:26) - Ryan’s background and career in the Navy before RDC
(9:28) - What were some key sales skills you learned working for a startup?
(10:58) - How did you go about the process of developing your Cap Table?
(12:50) - How did you decide your industry focus?
(18:13) - Once you had a targeted industry focus, how did you reach out to different companies?
(20:13) - How fast was it from Fundraise to close?
(20:26) - What does RDC do?
(21:57) - How did you build relationships with the most influential people on your team?
(27:27) - Were there any challenges with the fact that you were taking over a 3rd generation family business?
(30:18) - What have you found is most helpful in communicating that painful growth is best for the employees in the long term?
(33:24) - How did your time in the military affect how you look at job progression and giving people more responsibility?
(38:32) - What were some blind spots you developed while in the military?
(43:44) - How have you leaned on your board?
(45:43) - How did you develop your board?
(48:13) - What advice would you offer to searchers looking to create a board?
(52:35) - What college course would you teach if it could be on anything?
(54:56) - What’s a strongly held belief you’ve changed your mind on?
(57:01) - What’s the best business you’ve ever seen?