Episode of My First Million with Sam Parr and Shaan Puri.
Transcript
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Kind: captions Language: en when you buy a company what is the first three months six months are you hands-on with that is it do you have an operating partner who does that how do you guys make sure that you and you buy an asset you don’t a destabilize it and be you actually start to grow it which is I assume why you bought it in the first place yeah so so our philosophy there’s a lot of private equity firms out there that have these like you know 30-day 90 day 120 day plans right we don’t do that what we try to do is is take a humble attitude towards it and say look we we we know some things we have some talents but what we want to learn and and and come alongside them they’re the experts they’ve been doing it for a long time so there’s a team of 16 of us so so it’s not certainly I don’t get the impression this is just me there’s people far talented more talented than I am on staff and there we have a dual hook in structured post close so our financial team hooks into their financial team and creates feedback loops and then we have a we calls portfolio partner they’re kind of a Board of Directors in a box that is overseeing kind of the executive leadership helping make very high-level decisions I mean these are autonomous operating units I mean so there’s these are these are not we’re not injecting these people into the companies to run them but they’re in touch with the leadership teams all the time doing you know a variety different types of calls and meetings throughout the year how many companies are there there’s nine that you guys own that got it so that seems manageable yeah I mean it’s so for every kind of three to five companies we we acquire we got a higher one high-level financial person in one portfolio partner and that’s kind of their their grouping of companies that they’re kind of running so we’re almost creating like a fractal if you want to think about it that way down into the organization so that it scales as certain linearly in that way [Music]