Think Like an Owner

Ep. 222: Alex (@aebridgeman) is joined by Dan Cremons (@DanCremons). My guest today is Dan Cremons, author of Winning Moves, 105 Proven Ways to Create Value in Private Equity-Backed Companies, and founder of Accelera Partners where he focuses on helping private equity groups unlock people-powered value creation. Dan started at Alpine Investors for 12 years before leaving in 2021 to found Accelera, and his book is an incredibly thorough documentation of everything he learned about the private equity playbook and how it needs to evolve. Dan and I talk about the five buckets of value creation and what the biggest drivers are, what great value creation looks like at a PE firm and company level, traps for first-time CEOs, and interviewing executives to make sure you have the right team in place. 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/ I want to tell you about the audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it.  Take the survey here: https://bit.ly/3QLBB1N Links: → Buy Dan's bestselling book on PE value creation - Link → Resources for private equity professionals – Link → Resources for PE-backed executives – Link → Connect with Dan on LinkedIn – Link Topics: (00:00:00) - Intro (00:04:13) - Dan’s career background and learnings from Alpine (00:13:29) - How the Private Equity playbook has changed over time (00:16:23) - What a 10/10 PE firm looks like (00:25:40) - Categories of winning moves (00:30:21) - What have been your biggest learnings about revenue growth? (00:39:05) - First-time CEO traps (00:46:36) - Identifying priorities (00:53:39) - Alex’s perspective on finding focus (00:58:58) - Dan’s formative experiences (01:07:42) - Evaluating management teams (01:15:36) - Upskilling team members (01:20:02) - Winning the first few weeks in the CEO role

Ep.221: Alex (@aebridgeman) is joined by Moises Eilemberg (@Meilemberg). My guest is Moises Eilemberg, CEO of XiltriX, a 24-7 life science asset monitoring business that started 5 years ago with 36 employees today and growing swiftly. Moises is unique in that this is his second time as a CEO, his first being back in 2006 when he acquired a healthcare revenue cycle management company Avadyne, which he ran for 11 years before exiting, making 4 add-on acquisitions during that time. Moises has a ton of experience to share leading teams, improving unit economics, building sales orgs, and managing the change that comes with integrating add-on acquisitions. 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/ I want to tell you about the audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it.  Take the survey here: https://bit.ly/3QLBB1N Links: XiltriX Moises on LinkedIn Topics: (00:00:00) - Intro (00:04:20) - Moises’ career & XiltriX (00:07:02) - Becoming comfortable with the CEO role (00:09:33) - When did you start acquiring companies? (00:12:35) - How did your integration process change as you acquired more companies? (00:22:14) - Is there a reason you chose to be in this industry? (00:25:27) - What is the state of your market today? (00:29:12) - Is the market fragmented to a point where there are M&A opportunities? (00:31:40) - What’s driving the biologics growth over the past few years? (00:33:30) - What did you apply from your experience at Avadyne into XiltriX? (00:36:44) - What was your experience setting Sales comps? (00:42:57) - What levers have you used to improve unit economics?  

My guest today is Tom Klein, former Morningside Co-CEO alongside recent podcast guest Roland Lessard. This episode with Tom acts as a part two pairing with our February episode with Roland where we talked about M&A value creation after close. Tom and I today discuss M&A value creation largely pre-close of add-ons, talking through industry selection, sourcing methodologies, industry knowledge snowballs, building a reputation, and working with lender partners. Tom has been involved in 12 M&A transactions across Morningside and his previous experience in background screening. As an aside to you the listener, I’m really enjoying recent discussions on M&A value creation and consolidation strategies. If this is an expertise of yours or someone you know, I’d love to connect and chat more so please reach out. 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/ I want to tell you about the audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it.  Take the survey here: https://bit.ly/3QLBB1N Links: Tom on LinkedIn Greenwich Point Capital Topics: (00:00:00) - Intro (00:04:37) - Deep focused search approaches vs. scattershot approaches (00:11:18) - What numbers and measurements do you use when determining interest in an industry? (00:20:42) - How do you think about proof of success when examining companies within an industry? (00:28:29) - What are some of your favorite ways to research an industry? (00:34:11) - What are the key characteristics of a business you need to see when acquiring? (00:39:47) - What are some industries you were close to investing in but passed on?  (00:43:50) - What do you start looking for once you’ve finalized a platform acquisition? (00:54:50) - What are some key questions you ask sellers?  (01:01:35) - What do you look for in lenders? (01:18:30) - Advice for folks pursuing consolidation thesis’

The intersection of media and data has been the top idea on my mind for quite some time now. And my guest today, Craig Fuller, runs one of the best modern examples of this concept in action. FreightWaves, founded in 2016, is a media and data company focused on trucking, freight, supply chains, and all things logistics. To date, they have raised $91 million, will hit $42 million in revenue this year, split 55/45 between data and media, and have a valuation of between $300 and 400 million today. Craig’s work building FreightWaves has been an invaluable model for my work at HW Media as Chief of Staff with CEO Clayton Collins and the rest of our team. Conversations like this one have been instrumental in our discussions on the future of HW Media as an all-things housing media business. But we, and especially myself, also believe this model, this intersection of media and data can be a replicable strategy across industries. The goal of my episode with Craig today was to better understand how media and data can work together to create transformative companies, and I’m grateful for Craig’s willingness to share his experience and expertise. Throughout the episode, we talk about what data sets to focus on first in an industry and how to build around them, developing the product roadmap, the media data flywheel, hiring effective editorial and sales teams, and the investor perception of FreightWaves. 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 https://tlaopodcast.com/ I want to tell you about the audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it.  Take the survey here: https://bit.ly/3QLBB1N Links: Craig on LinkedIn FreightWaves The Economics of Data Businesses by Abraham Thomas Topics: (00:00:00) - Intro (00:05:08) - Why do media companies typically misunderstand ‘data’ and data companies? (00:07:51) - How did the Media & Data arms of FreightWaves impact each other as you built this business? (00:13:44) - When you think back about creating high-frequency data, how did you approach building it for FreightWaves? (00:18:32) - Where has the bulk of your capital gone in building the company? (00:28:02) - How do you think about expanding your data sets going forward? (00:32:50 - Who is involved in your product development process? (00:38:44) - How did you two sides of your business interact in the early days, and has that changed over time? (00:50:12) - How do you attract high-quality talent? (00:54:56) - How do you structure your sales teams? How do you think about pricing? (01:02:01) - What’s the investor perception of businesses running on Media & Data?

Ep. 218: Alex (@aebridgeman) is joined by Henry Schuck (@HenryLSchuck). My guest today is Henry Schuck, founder and CEO at ZoomInfo, one of the most successful data businesses in recent times with a market cap today around $12B. I’ve been looking forward to this podcast for a long time because Henry has proven to be an effective founder, acquirer, and public CEO capital allocator, which is a rare combination of skills to find in a single CEO. He’s thought very deeply about building high performing organizations, sales functions, and how his own role needs to evolve as the company grows. We talk through lessons learned building vs acquiring capabilities, M&A and integration lessons learned, fixing problems with a process vs culture approach, and how data businesses will succeed in the future 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/ I want to tell you about the audience survey we are currently running. These surveys help us create the best content for listeners and better understand your needs and interests. Thank you in advance for sharing your feedback, we greatly appreciate it.  Take the survey here: https://bit.ly/3QLBB1N Links: Zoominfo Henry on X Topics: (00:00:00) - Intro (00:03:49) - What would you focus on if you were running Boeing? (00:07:26) - How have you seen other CEOs solve culture vs. process problems? (00:12:47) - How do you approach hiring? (00:20:28) - How can you incentivize employees to buy into company values? (00:23:11) - What have you learned working with investors and other CEOs to be a great founder and M&A executive? (00:26:52) - How do you incorporate new tools or partners into Zoominfo? (00:33:53) - What have you learned about integrating acquired companies? (00:36:24) - How do you get a conviction when doing due diligence on a potential acquisition? (00:38:49) - What skills around M&A are you looking to improve? (00:41:19) - How will data companies in the future succeed?