Acquiring Minds Control & Family: Drivers of a Self-Funded Search
Sep 12, 2024
Michael Kelker, who acquired a $2.5 million pallet manufacturer, shares his journey of building a family legacy through entrepreneurship. He discusses the challenges of self-funding versus traditional methods, emphasizing control and autonomy in his work. Kelker highlights navigating the pallet industry during COVID-19, including rising material costs and savvy deal-making. He also reflects on the importance of nurturing relationships, learning from employees, and adapting strategies to thrive amidst a competitive market.
AI Snips
Chapters
Transcript
Episode notes
Michael's Journey to Entrepreneurship
Michael Kelker shared that he always wanted to buy a company but initially worked in technology. He finally decided to pursue his dream after discussing it with his wife, who supported the idea as long as they didn't have to move.
Control vs. Wealth in Business Ownership
Michael chose self-funding over traditional search funding to maintain control of his business. He believed in prioritizing control over maximizing wealth, valuing autonomy in his entrepreneurial journey.
Leverage Your Network
Michael emphasized the importance of networking during his search for a business. He advised to reach out and connect with others in the industry to discover potential acquisition opportunities.