Acquiring Minds Fire, Covid, Exit: 5 Years in a $12m Events Business
12 snips
Feb 15, 2024 In this podcast, Will Wright shares his experience of buying a big event rental business and navigating through the challenges brought by Covid-19, including fulfilling contracts after a warehouse fire, layoffs, and salary cuts. He also discusses the value of company culture, building and strengthening the business during the pandemic, and creating an incentive strategy for employees. Additionally, he talks about Texas as an attractive place for business and how his sailing experience prepared him for leadership. The podcast concludes with insights on their successful business sale.
AI Snips
Chapters
Transcript
Episode notes
Motivation Shift
- Will Wright's motivation shifted from paycheck to ownership and responsibility.
- He realized his potential required ownership but preferred growing an existing business over starting one.
Embrace Independence
- Embrace the independence of the search process and recognize your potential.
- Realize you can act as your own private equity fund, raising capital and doing deals independently.
Search Fund Community
- The traditional search fund community isn't elitist but values grit, industry experience, and drive.
- Investors prioritize these traits over elite business school backgrounds, especially with increased capital influx.