At some point in their history, virtually every successful company has needed to raise money—and there are now more ways than ever to do it. Do you rely on your friends and family? Do you bring in outside investors? If so, who? Are you looking for an infusion of cash, or a long-term partner to help you grow and sustain your vision?

Kevin Fechtmeyer knows these tough situations and questions very well. With 25 years of experience in private equity both on Wall Street and at his own firm, Cave Creek Capital, he has helped fund over $1 billion in equity and made countless acquisitions, empowering a number of modern leaders in their respective industries, including Dell Computer, Qualcomm, and Hickory Farms.

Today, we spoke about his journey, the risks and rewards of entrepreneurship, and why company culture—and being able to cultivate great talent—is key to long-term success.

In this podcast interview, you’ll learn:

1. When and if you should partner with a private equity firm—and what to avoid in the process.
2. Why so many companies hit a plateau or experience stunted growth after initial successes—and what almost every entrepreneur needs to do in order to scale from $10 to $100 million in revenue, no matter what industry you’re in.
3. Why creating, nurturing, and maintaining great company culture is essential to bringing in (and keeping) the talent you’re going to need to succeed in the long-term—and why most investors would rather have a B company with an A team than an A company with a B team