Change is a welcome companion. Rather than resisting it, I embrace it as a vital part of improving every business that I have owned or managed. I purchased my first business at age 24. It was suffering from declining market share and sales averages. I immediately stabilized cash flow and grew averages. In less than 5 years, market share grew over 50%. What changed? I implemented an unproven, but financially sound pricing structure. I also insisted on flawless customer service which rebuilt the firm’s reputation. 8 years later I sold the business.What changed? Selling prices in my industry were skyrocketing which I perceived was unsustainable. The offers were based on unattainable economies of scale and unproven revenue growth. 30 days after the sale of my business, stock prices in my industry plummeted 400%.Shortly after the sale I began working for Carriage Services (a conglomerate in the industry) as a Regional Manager of 27 operations. I partnered with Senior Management, IT, Finance, and Human Resources to transition the company from acquisition-focused to a viable operation. While others in the industry were filing bankruptcy, our stock improved 350%.A decade later, I purchased a manufacturing company.What changed? I decided to take all the experience that Carriage had provided and apply it to another business. Shifting from service B2C to manufacturing B2B was invigorating. I transitioned it from a fragmented company with no HR, Safety, Inventory, or Ordering procedures with error rates close to 10% to an organized company with less than .3% errors.Now, it’s time to combine my business acumen and analytical skills to solve new problems.What changed? I sold a division of the concrete company which resulted in the core business of concrete product manufacturing to remain. I have transitioned my role to setting monthly production schedules and addressing long term capital plans no longer requiring day to day involvement.
