HoldCo Builders How I Bought 18 Companies and Built A Holding Company That Does $140M in Revenue | Michael Byars Interview
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Sep 17, 2023 In this discussion, Michael Byars, founder of a holding company managing 18 businesses with $140 million in revenue, shares his transformative journey. He explains how he multiplied his initial restaurant investment by 8-10x and highlights the three critical changes he makes when acquiring companies. Michael reveals his unique strategies for due diligence, along with how to buy a business with no money down. The importance of mentorship and the necessity of effective systems in revitalizing operations are also key takeaways.
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Michael's Early Business Growth
- Michael Byars started with a tech company and grew a $200k revenue restaurant to $3 million in two years.
- He expanded into real estate and bought ancillary businesses to better serve his customers and renters.
Over-Deliver and Keep Promises
- Always over-deliver a superior product and do what you say you'll do, even if it costs more.
- Keeping promises builds trust resulting in long-term business relationships.
Universal Business Pillars
- Core business pillars are sales, operations, and finance, essential in any industry.
- Systems and processes learned in restaurants can be adapted to other industries, like plumbing or HVAC.