Ep. 171: Alex (@aebridgeman) is joined by Justin Nassiri (@JustinNassiri).

My guest today is Justin Nassiri, founder and CEO of Executive Presence, a managed social media service for ambitious CEOs, with a focus on LinkedIn today. We talk about why CEOs should care and focus on building a social media following, and how CEOs can optimize their social presence, including a walkthrough of the most important things to optimize on your LinkedIn profile. We also compare the top platforms for CEOs, LinkedIn and Twitter, and the pros/cons of each and where to start.

Justin also draws on his experience being a founder of two prior companies, Captivate and StoryBox, to be a more effective and balanced CEO in his current business. He has a lot of lessons learned and advice for CEOs looking to expand their reach and improve individual performance. This episode was super interesting and rich with actionable ideas and I think you’ll come away with a lot to apply to your own company.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. 

Learn more about Alex and Think Like an Owner at https://tlaopodcast.com/

Links:

Justin on LinkedIn

Executive Presence

Beyond the Uniform Podcast

Thumbtack

SmartShoot

Timestamps

(00:04:05) Justin’s career prior to Executive Presence

(00:09:47) Capturing authenticity in a client

(00:15:04) Thoughts on different Social Media platforms for CEOs

(00:19:06) How to use LinkedIn in a more optimized fashion

(00:23:15) Growth pattern differences between Twitter & LinkedIn

(00:24:58) How to optimize your profile

(00:36:51) How CEOs can benefit from an increased presence on LinkedIn?

(00:41:32) Being Transparent on Social Media

(00:47:42) Lessons learned from founding 3 companies

(00:57:47) Finding work-life balance and creating high-quality work

(01:03:54) What’s a strongly held belief you’ve changed your mind on?

(01:05:10) What’s the best business you’ve ever seen?

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Ep. 170: Alex (@Aebridgeman) is joined by Aaron Perrine (@AaronPerrine) and Kevin Oxendine (@KevinOxendine).

Today's episode is the first in our new seven-episode series titled Launch Series, in collaboration with Trilogy Search Partners and Pacific Lake Partners. This series is meant to be a guide to preparing a search entrepreneur for their upcoming CEO role, the next major step in their career. Our episodes will focus on topics such as starting up a search, deal structuring, seller relationships, first hundred days, governance, and much more.

This first episode focuses on conducting effective industry research with guests Aaron Perrine and Kevin Oxendine, Partners of Trilogy and Pacific Lake, respectively.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. 

Learn more about Alex and Think Like an Owner at https://tlaopodcast.com/

Links:

Aaron on LinkedIn

Kevin on LinkedIn

Trilogy Search Partners

Pacific Lake Partners

Grata

Listen to last year's Trilogy Search Series on Spotify

Timestamps:

(00:02:40) Kevin and Aaron’s background and careers

(00:04:37) How Searchers are approaching Industry research and focus

(00:19:17) Evaluating M&A activity in an industry

(00:24:56) Characteristics or factors that remove industries from consideration for investment

(00:31:31) Finding Industry experts 

(00:36:54) How Searchers can best tell their own story

(00:42:09) The process of doing online research before getting on the phone with owners

(00:45:50) Writing a phenomenal PPM

(00:49:14) Tools for Searchers Doing Industry Research

(00:51:12) Different Levels of Industry Research

Ep 169: Alex (@aebridgeman) is joined by Amir Haboosheh (@amirhaboosheh)

My guest on this episode is Amir Haboosheh, Co-Founder and CEO of Snowball Industries, a home services holding company with 4 portfolio companies today. Their vision is to build a permanent, publicly traded home for these companies, and Amir and I talk extensively about what an IPO looks like and the benefits and tradeoffs it brings. 

We also talk a lot about empathy, a skill ambitious CEOs cannot get enough of, lessons from Amir’s family on empathy, and how he coaches new managers on empathy and leadership. This conversation had a lot of depth and I think you’ll be able to take away many of these lessons to your own company.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. 

Learn more about Alex and Think Like an Owner at https://tlaopodcast.com/

Links:

Snowball Industries

Amir on LinkedIn

Buffet: The Making of an American Capitalist by Roger Lowenstein

Berkshire Hathaway Shareholder Letters

$FIX - Comfort Systems

John Wilson on Think Like an Owner

Color Code

Timestamps:

(00:00:00) Intro

(00:03:45) Favorite Warren Buffet Lessons: Reputations

(00:07:28) Being flexible in purchase agreements

(00:09:31) Snowball’s Origin and business strategy

(00:14:52) Home Services companies going Public

(00:16:48) Revenue required to go Public

(00:19:27) How the role of the CEO changes through company growth and Going Public

(00:25:45) The power and importance of Empathy

(00:41:28) Screening for empathy in candidates

(00:44:14) Color Code

(00:49:06) Giving feedback

(00:53:35) Leaning on a board for expertise

(00:57:29) What strongly held belief have you changed your mind on?

(01:00:01) What’s the best business you’ve ever seen?

Ep. 168: Alex (@aebridgeman) is joined by Daniel Hudspeth (@danielhudspeth).

My guest today, Daniel Hudspeth, is the CEO of Discover Health, a concierge medical practice business with locations in California, Boston, and soon to be Seattle. During his search Daniel did extensive research on private pay healthcare and eventually developed a thesis to acquire multiple concierge practices across the country.

We talk about this pivot during his search, what the concierge model looks like for patients and doctors, why it’s an attractive business as an investor and operator, and what growth could look like over the coming years. Given my mom is a family physician, this episode felt close to home and I enjoyed the chance to connect with an entrepreneur like Daniel who’s looking to build a better model in patient healthcare.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. 

Learn more about Alex and Think Like an Owner at https://tlaopodcast.com/

Links:

Discover Health

Concierge Medicine Today

ROAMD

The Predictive Index

Founders Podcast - Yvon Chouinard: Patagonia's Founding Principles

Let My People Go Surfing by Yvon Chouinard

Topics:

(00:00:00) - Intro

(00:03:23) - Daniel’s Search Journey

(00:14:31) - Investor hesitations force the Search to go longer

(00:17:28) - Recruiting Doctors to the Organization

(00:25:57) - Churn dynamics

(00:29:47) - Staffing requirements

(00:31:45) - Establishing a playbook for how these businesses are run

(00:35:18) - Concierge-centric Podcasts

(00:37:23) - Defining Executive roles

(00:40:09) - How the CEO role has changed

(00:43:06) - Utilizing peer networks

(00:46:05) - Tools for hiring and recruiting

(00:50:13) - What strongly held belief have you changed your mind on?

(00:52:47) - What’s the best business you’ve ever seen?

Episode 167: Alex Bridgeman (@aebridgeman) is joined by Chris Hoffman (Chris-Hoffman).

My guest, Chris Hoffmann, is the President and CEO of Hoffmann Brothers, a home services business based in St. Louis. Hoffmann Brothers have scaled from $10 million in 2015 to over $100 million in revenue in 2023. We talk about how that journey happened, their experience building executive teams, investing in people through a training university they started for ongoing training, and investing activity for home services today.

We also talk about what perpetual non-private equity ownership enables them to do, including their unique strategy for managing cash investments and liquidity as a growing family office. This was a ton of fun for me and I hope you enjoy this conversation as well.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. 

Learn more about Alex and Think Like an Owner at www.AlexBridgeman.com

Links:

Chris on LinkedIn

Hoffmann Brothers

NexStar Network

Chapters:

(00:03:38) - Hoffman Training University & NexStar

(00:08:26) - Enabling scale and revenue growth

(00:10:55) - Differences in PE-backed company structures

(00:14:25) - Retention and morale-boosting tactics

(00:17:59) - Leadership team composition

(00:21:17)- Surfacing high-performers & evaluating management teams

(0:28:53) - Using Search Firms to find talent

(00:30:25) - Choosing an Executive Search firm

(00:33:30) - Financial sponsor interest in the HVAC and Home Services market

(00:36:15) - Reasons Consolidators are failing

(00:38:41) - Debt, Public Equity Strategies & Fund Investing

(00:48:00) - Goals for the family office

(00:49:47) - Building new locations from scratch vs. acquiring existing companies

(00:55:37) - Acquiring a school

(00:58:53) - Changing strongly held beliefs

(00:59:54) - Chris’ favorite business

Episode 166: Alex (@aebridgeman) is joined by Ed Redden (@Edward-Redden).

Ed and his partner Justin Vogt are former podcast guests from episode 59 where we talked about starting Evermore Industries, an industrial services holding company. Last year they acquired AVUITY, based in Cincinnati, which sells physical commercial office sensors that detect motion, temperature, humidity, and more, along with a data and analytics subscription.

Ed and I talk about making the first acquisition in a holding company strategy, working at the intersection of hardware and software, talent planning and sales development, and life running a company while being a new parent. Enjoy!

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. 

Learn more about Alex and Think Like an Owner at www.AlexBridgeman.com

Links:

Ed on LinkedIn

AVUITY

Evermore Industries

Topics:

(00:00:00) - Intro

(00:03:23) - Acquiring AVUITY

(00:07:20) - Characteristics that make a great business to acquire

(00:11:38) - Competing with Venture-backed businesses

(00:13:34) - Advice from investors

(00:17:25) - Accelerating Revenue Growth

(00:22:44) - Measuring customer ROI

(00:25:09) - Data application between customers

(00:29:30) - Hiring plans

(00:36:33) - Growth pain points

(00:38:55) - Learning to sell

(00:40:26) - Life as a new parent & operator

This is the third and final episode in our three-part series on Chenmark, a highly successful small business holding company founded in 2015. Today they have acquired 11 operating companies, completed 30+ acquisitions when including add-ons, and have over 600 employees today.

This third episode takes a deep dive into their CEO recruiting function and what has to happen to keep Chenmark on its growth trajectory. We discuss their GVP program where they recruit young hungry leaders to eventually be placed in CEO roles, their GA program for associate-level recruiting, and earning the right to take risks and what that means for them today. I hope you enjoy this third part of the series with Trish Higgins and James Higgins.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. 

Links:

Chenmark

Trish on LinkedIn

James on LinkedIn

Will Thorndike on Invest Like the Best

Legacy by James Kerr

Chenmark Series 1

Chenmark Series 2

Topics:

(00:04:51) Earning the right to take risks

(00:11:10) Accelerating acquisitions and faster processes

(00:13:04) Expanding capacity beyond headcount growth

(00:17:25) Reinvestment in current companies vs. new platforms

(00:22:08) Not having a full-time person searching for deals

(00:26:13) Chenmark's GVP Associate's Program

(00:36:31) Hiring CEOs and Operators

(01:04:16) How to make Chenmark be successful for another 20 years

(01:07:17) How to carry on a Newsletter long-term

Please take 2 minutes to complete this audience poll and give feedback on the podcast

This episode is the second in a three-part series we are running on Chenmark, a highly successful small business holding company founded in 2015. Today they have acquired 11 operating companies, completed 30+ acquisitions when including add-ons, and have over 600 employees today.

This second episode focuses on their operating ethos, culture, and incentive structures. We discuss meeting cadence and formats across the company, the use of debt, CEO incentive models, broad incentives beyond CEOs, and lessons learned from building and maintaining good cultures. I hope you enjoy this second part of the series with James Higgins and Palmer Higgins.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. 

Links:

James on LinkedIn

Palmer on LinkedIn

Chenmark

The Weekly Thoughts Newsletter

Listen to Part 1 of this series here

Topics:

(4:26) - How do your core values extend to your portfolio companies?

(6:13) - What are some ways you learn about the culture and core values of a company you acquire?

(8:32) - Is there a wide range in terms of how quickly teams can adapt to these new core values? 

(10:52) - How do you assess the willingness to change the culture in new ownership?

(13:57) - Are there a set of recurring meetings you have in the early days of ownership?

(20:02) - Is there an ideal set of principles and tools you’re looking to reach internally for portfolio companies?

(21:26) - Is there a way you’re storing past decisions in a database?

(27:43) - What’s the next piece of the communication cadence journey for you?

(29:00) - How many acquisitions are you making per year?

(32:34) - Are there any other flywheels you didn’t anticipate coming to fruition?

(35:14) - What’s been the evolution of CEO incentives?

(38:53) - Chenmark’s stock purchase program

(42:54) - What companies do you look to for inspiration on compensation plans?

(44:30) - Does the incentive plan change across roles?

(47:06) - Are there any negative consequences of a Free Cash Flow Compensation plan?

(51:51) - What’s the philosophy behind the FCF compensation plan?

(55:18) - Are there any other common principles around compensation or budgets that don’t fit with what you want to do?

Please take 2 minutes to complete this audience poll and give feedback on the podcast

This episode is the first in a three-part series we are running on Chenmark, one of the most well-known and studied holding companies in the entrepreneurship through acquisition world. And for good reason! Since its founding in 2015 they have acquired 11 operating companies, completed 30+ acquisitions when including add-ons, and has over 600 employees today.

This series is not meant to be a one-stop-shop for everything Chenmark. The Higgins’ have appeared on Invest Like the Best, there is a fantastic case study by A.J. Wasserstein about them, and they share their thoughts every week through their Weekly Thoughts newsletter, which is one of my favorites. Instead, this series is meant to dive into topic gaps, where I am most personally curious, and areas of change for Chenmark.

For this first episode, we cover the risk/reward of their path early on, founding ideals, and various pivots and challenges in starting Chenmark. The second episode focuses on their operating ethos, culture, and incentive structures. The third and final episode takes a deep dive on their CEO recruiting function and what has to happen to keep Chenmark on their growth trajectory. I hope you enjoy the series, please enjoy this first episode with Trish Higgins and Palmer Higgins.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. 

Links:

Trish on LinkedIn

Palmer on LinkedIn

Chenmark

Trish and James Higgins on Invest Like the Best

The Weekly Thoughts Newsletter

Topics:

(5:11) - How did you come up with the core values for Chenmark?

(12:58) - Has establishing these values made it easier to communicate change?

(14:06) - How did you each consider pursuing the path of SMB?

(20:57) - How has your thinking evolved since running Chenmark?

(22:09) - Have you found that having competition encourages you that you can build something really successful in this industry?

(24:45) - What skills translated over best from Finance to SMB?

(28:07) - How did your prioritization of tasks change when you made this jump?

(33:00) - What are some ways you make health a priority?

(42:01) - What were some process improvements you made in your first 3 acquisitions?

(46:39) - What have been some helpful tools for evaluating CEOs?

(49:22) - How does performance factor into evaluations?

(51:05) - In the Search world, what changes have you observed the most strongly over the past few years?

(54:42) - Are you enjoying yourself?

(57:26) - What do you like and dislike about your roles?

Please take 2 minutes to complete this audience poll and give feedback on the podcast

My guests on this episode are Jalen Ross and Orlando Remak, cofounders of CAM Collective, a holding company for association management companies like HOAs founded in April 2022. Today they have four member companies. I was lucky enough to meet Orlando during a trip to Ohio two years ago before he had started CAM Collective and have thoroughly enjoyed getting to know him and Jalen.

We talk about being intentionally decentralized while remaining focused on one industry and business model, focusing on growing revenue vs achieving cost savings, looking for ways to automate processes, hiring at a holding company level, and creating a partnership vs. being solo entrepreneurs.

I’m sure you’ll be able to tell very quickly, but Jalen and Orlando beyond being partners are also clearly great friends and are very fun to chat with. I hope you enjoy this episode with Jalen and Orlando.

Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. 

Links:

The CAM Collective

Orlando on LinkedIn

Jalen on LinkedIn

Topics:

(4:22) - What is the CAM Collective?

(5:09) - What kind of content would you make around CAM?

(6:41) - What are some crazy HOA Management stories?

(11:47) - Why were HOAs interesting to you?

(15:48) - What level of churn do you see in your business?

(17:27) - What are some keys to maintaining HOA relationships?

(20:58) - How does pricing power work in HOA Management?

(22:16) - How have you approached the decentralized nature of the company?

(25:36) - What value propositions did you see were missing in this market?

(31:19) - How do you maintain such a high level of care?

(33:04) - What are some revenue lines and growth opportunities you seen with HOA Management companies?

(37:13) - What are some no-code or automation tools you’ve found to be effective?

(40:55) - What’s the philosophy around having smaller teams?

(50:31) - What are the pros and cons of doing this as a partnership?

(53:55) - Were there any exercises you did on trying to find a career you would enjoy and feel fulfilled in?

(1:02:51) - What are some strongly held beliefs that you’ve changed your mind on?

(1:06:36) - What’s the best business you’ve ever seen?

(1:10:52) - More on CAM Collective