The Boardroom Buzz is the go-to resource for cutting-edge insight on strategy, valuation and mergers & acquisitions in the pest control industry. The Buzz is the podcast for shareholders, board members and senior managers in the pest control industry.
Presented by the Potomac Pest Control Group. Hosted by Patrick Baldwin and Paul Giannamore.
Pre-Profit First, Mike struck it rich in his early 30's. As a new angel investor with a nice ride, Mike hit rock bottom in more ways than one. With raw emotions, he recalls the events that inspired his best seller. Writing became therapeutic as he began his 'journey to eradicate entrepreneurial poverty'. Revisiting his experience with depression, Mike recommends mental therapy. He even gives a poor man's version to help recover.
Six years ago, Patrick and Bobby franchised their business. With properly placed intentions, what advice can Patrick give looking back at the experience? Patrick goes into detail about what he would do differently if he had to make the decision again. While Paul recalls Patrick learning the hard way, Paul gives an alternate entry for staking start-ups.
At 47-years old, Jeff Phillips decided it was time to exit after his dad’s passing. Although his father is no longer with us, his wisdom lives on in this Boardroom conversation. From 'build it to sell' to 'do something and do something very well', Jeff's dad personified the Blue Chip mentality.
As the owner of Aantex Pest Control, Sean is now on pest control company number three. While pest control runs through his veins, it's not the only ‘egg in his basket’. Sean has monetized his previous pest control investments to venture into other assets.
There must be reasons to sneak a vendor into The Boardroom. David Giannetto announces PestPac's partnership with Target Specialty Products. This alliance can put even more money into operators' pockets. Another announcement he shares is WorkWave's promotion from IFS to parent-fund, EQT.
M&A attorney Mike Stanczyk fields shareholder agreement questions. From formal arrangements to napkins to none, hear how preparation and sophistication varies. Don’t feel alone if you find yourself without a proper agreement in place. Learn from others. Have these discussions. Proper agreements are borne from previous poor personal planning.
Patrick recalls a one-time project in which he had to research recurring vs reoccurring. Leave it to Patrick to chase that into a food frequency free-for-all. If Paul can make it past the Compound, he can show how his one (and maybe never) trip to Waco explains the reoccurring difference. Paul goes on to distinguish reoccurring and one-times.
Relationships, referrals, and pricing chatter abound during this time in The Boardroom. When it comes to building a client base, Jeff takes over as teacher during this sit-down session. Listen for how Bain Pest Control’s retention rate and marketing budget stray from the norm.
Mitch Smith discusses experiences which shaped his management style. He shares leadership lessons learned throughout his 35+ year career. Before Mitch’s current position as COO of Edge, Mitch was the Pacific Division President at Orkin.
Do you have questions regarding the value of your pest control business?