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Acquiring Minds
How a Couple Left Tech to Buy a Business Together
Jan 27, 2025
Ray and Dana Cherry left successful tech careers to buy Monsam Portable Sinks, showcasing their journey into manufacturing. They share insights on how they outmaneuvered 50 competitors to secure the business, emphasizing the importance of communication and shared goals in their partnership. The Cherrys discuss innovating their product offerings in a niche market that boomed during COVID-19 and their plans for significant growth. They also reflect on the balance of financial management and strategic relationships, providing inspiration for aspiring entrepreneurs.
01:16:36
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Quick takeaways
- Ray and Dana Cherry's shift from successful tech careers to entrepreneurship highlights the importance of aligning personal passion with business decisions.
- The couple's strategic acquisition of Monsam Portable Sinks showcases effective market research and leveraging existing business potential for growth.
Deep dives
Origins of Monsam Portable Sinks
In the late 1990s, an engineer’s solution to his wife's food vending problem led to the creation of Monsam Portable Sinks. As outdoor vendors faced challenges with hygiene regulations, his portable sink allowed them to wash hands safely and comply with health inspections. This opportunity not only addressed a significant need but also laid the foundation for a company that now thrives in a niche market. The couple's story reflects the immigrant entrepreneurial spirit, as they built the business from the ground up, impacting vendors and food service providers across the country.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode