Intentional Growth

From zero to $120+ Million in 6 years to bankruptcy, then to the cover of Inc. Magazine and the eventual sale for hundreds of millions of dollars, Norm Brodksy deserves every ounce of praise and money he received when he sold! The battle wounds of his first tragic business venture turned him into one of the wisest entrepreneurs I have ever encountered.

The stories Norm shares with us are incredible! It was fascinating hearing him recount how he used his articles in Inc. Magazine to showcase his selling process with his potential buyers and then rejecting the offer at the last minute despite having appeared on the front page with the headline “Norm Says Yes”.

Norm also shared with us some great real-life examples of how he made his companies so successful. Always to the point, it’s impossible not to be inspired by what Norm has to say.

Norm was crystal clear that even though there was a change in the marketplace and a variety of external factors, it was up to him to take responsibility and not to slip into the “Groundhog Day Syndrome” as he called it. His first piece of advice was:

[clickToTweet tweet=”“If we blame others or outside forces for what happened, we’re destined to make the same mistakes over & over again.” ” quote=”“If we blame others or outside forces for what happened, we’re destined to make the same mistakes over and over again.”” theme=”style2″]

The first (and most important) thing Norm did was take a look at who he is, what he wanted from his business, and why. At this point in his life as an entrepreneur, he decided the culture, vendors, and clients he worked with were the most valuable parts of a healthy and sustainable business.

Bo Burlingham, the Editor at Large from Inc. Magazine, partnered with Norm on the column when he was selling CitiStorage. He also featured him in his book “Small Giants: Companies That Decide to Be Great Instead of Big“ because there were multiple times Norm had to decide whether he wanted to chase the revenue number again or maintain a profitable and healthy business.

In short, it’s the way the employees are treated within the company. He viewed his employees more like being part of his family than just merely his workers. The best part is, by putting in effort and energy into his culture he was able to enjoy what he did and see the

This week we have a great story of someone that worked really hard to figure out who she was, what she wanted from her business and life, and why. Tana Green has done some exceptional things along her journey into her second half. She decided to use her current business as a platform to accomplish her life’s aspiration to change people’s lives.

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We have a serious high achiever on the podcast this week – a man who managed to buy 11 companies (one in just three days) and sell his own $42 million company in just six weeks.

After moving back home, Terry Lammers bought the family wholesale fuel and lubricants business. He became prolific in the marketplace by then buying up more and more of the competition. You will not find a man more experienced in the game of M & A…

Terry knew that in the limited area he did business, there was only a finite amount of competition and business to be had. He was always on the lookout for people that were trying to find a way out. Terry knew that once the competition was actually ready to sell, he had to jump on the opportunity.

Some of the acquisitions were a bit more cumbersome and hairy (like the deal Terry explains went bad after the kind-hearted man went back on his word). However, most of the businesses that Terry bought had returns that the best of us could only dream of!

Terry had a knack for knowing exactly what a business was worth to the seller and how to make it a great deal for both sides. He didn’t just let the professionals dictate the terms and conditions for the deal…he made a huge effort to make it a no-brainer for everyone.

Some of the deals were bonus structures (earnouts), some were cash offers, some were stock purchases, and others were a combination. The only thing on Terry’s mind was to find a way to make a deal fair for everyone involved and get it done!

After buying 11 other companies over the course of owning Tri-County Petroleum, Terry realized that things really needed to be buttoned up if a good deal was to be made. Following are some of the top things he did with intention before the sale of his company:

Terry called everyone into a normal monthly meeting when he decided it was time to tell all of his employees about the sale of the company. There was no guarantee that a job was lined up for each employee under the new ownership…but the good news was that everyone was offered a job but one employee!

The reason the one employee was not hired was they had an entitled attitude during the interview process with their new boss (weird how that didn’t go well!). All the employees were treated very fairly because the buyer decided who they wanted

He’s worked in sports management with the likes of Brett Favre, he bought and sold four businesses by the time he was 35, he’s done multiple M & As in his time as an investment banker, and now he’s a bestselling author (Networking is a Contact Sport, Moving the Needle), speaker and coach. He also loves the work of our recent guests Dean Niewolny and Lloyd Reeb over at the Halftime Institute.

With that kind of background and experience you can probably guess, we were not exactly short of conversation! Listen to the show for some absolute gold advice about how to set yourself up for a fulfilling life after business, or read on for some of the highlights…

The 8th in line of 8 older brothers, a negative net worth of $50,000 and a love for manufacturing, Joe had no doubts he was destined to be an entrepreneur. He went to the library and built his own database of manufacturing companies, pre internet, with the goal of calling all the owners to see where they were at. Joe’s main goal was to find someone that would be willing to take on a hard working, ambitious young man that would be willing to sell their company over time.

After finding his perfect situation Joe did just that… and then acquired 3 more manufacturing companies before selling!

He sold his companies at a relatively young age because he had 4 little kids at home and was starting to realize that he should reprioritize some things in his life.

After Joe sold he got to work on his bucket list, i.e. single-digit golf handicap, running the Boston marathon etc. But soon it just wasn’t cutting it. In his words: “I thought I’d either have to create a new list or go back to work, or I’m gonna die!” That’s how he ended up in sports management, specializing in acquiring companies on behalf of sports stars.

Most people don’t have any idea how to pause, call the whistle, and look at the replay.  How can you go onto to a life afterwards of passion and purpose if you have not assessed how you have played the game so far?  Having intention in the second half is hardest part!

Anyone who has successfully transitioned into their second half has taken time to reflect and take a look at who they are and what they really want. In the first half, we are busy working to create a stable household and to provide for our family. Many people measure success on the things we can see, i.e. flash cars, big houses etc., and this is more the domain of the first half. In the second half it’s more about things we don’t see, like respect, dignity and serving others. In the second half it’s about finding a purpose and having a life vision.

If your life turned out really great, what metrics would you use? Not enough people really define what success means. They can easily assume they’re unsuccessful, or on the flip side, aim for something they assume will make them successful; but it could all end in tears if they haven’t focused on what success really means to them.

“We find things that burn inside of us, and I think we’v