ZARZA We are Zarza, the prestigious firm behind major projects in information technology.
Listen "E32: Joe Wechsler: From Management Consultant to SMB Acquisitions"
Episode Synopsis
The podcast this week introduces us to Joe Wechsler, a management consultant turned operational business entrepreneur. In this episode, Joe shares his experience in acquiring different businesses and how he has managed to reduce associated risks. He discusses the importance of reading and taking action in entrepreneurship, as well as his process for selecting businesses to acquire. Joe emphasizes the importance of having a prepared team in the acquired businesses and how he has learned from past experiences. He also mentions the use of the Entrepreneurial Operating System (EOS) and its focus on leadership and mentoring to achieve business goals. Hiring staff, the importance of core company values, and candidate selection strategies are also addressed in the interview. All of this is aimed at achieving financial and personal freedom so that Joe can invest time in his family and his adventurous and sporty lifestyle.
Here are some power takeaways from today’s conversation:
Taking action and learning from hands-on experiences can be more impactful than solely relying on extensive reading or courses.
The existence of a capable and dedicated team that can maintain the operation running smoothly is a key aspect to consider when acquiring businesses.
When recruiting, it is important to consider tools such as personality tests or develop sufficiently lengthy processes to evaluate the fit between the individual's values and those of the company.
When acquiring a business, it is crucial to delegate tasks to competent leaders and have faith in their work without micromanaging everything.
The organic outcomes achieved by the teams lead to increased satisfaction and foster their growth in assuming responsibilities.
Acquiring businesses in growing markets allows for capitalizing on their potential and driving further expansion.
Understanding the competitive positioning of a business is crucial for long-term success, knowing factors such as unique products or services, strong customer relationships, and innovative technology are key when acquiring a new business.
Acquiring businesses with scalable models allows for leveraging synergies and operational efficiencies, maximizing overall growth and profitability.
Cultural fit: Seeking businesses with a similar mission, values, and work culture to one's own company facilitates collaboration, employee engagement, and customer satisfaction during the integration process.
Episode Highlights:
[00:00 - 1:20] Intro
[01:20 - 3:25] Mergers and Acquisitions in the Mid and Lower-Market
[03:25 - 07:20] How Joe Wechsler Found Success in the Mid-Market M&A Space
[07:20 – 9:32] Joe's Advice on Gaining Momentum
[9:32 – 10:48] A Fit Team: The Key to Building a Strong Foundation
[10:48 – 13:04] Risk Reduction Strategies in Business Acquisitions: A Guide for Investors
[13:04 – 15:25] Diversifying Success: Building a Thriving Business Portfolio
[15:25 – 17:10] Acquiring Stable Businesses: The Key to Success for Investors
[17:10 – 19:32] EOS: The Tools You Need to Manage Multiple Businesses
[19:32 - 20:35] The ROI of Being a Mentor for Your Teams
[20:35 - 29:40] Efficient Hiring Strategies: How to Find the Right Talent Fast
[29:40 - 41:10] Balance Your Projects with Your Personal Life
Here are some power takeaways from today’s conversation:
Taking action and learning from hands-on experiences can be more impactful than solely relying on extensive reading or courses.
The existence of a capable and dedicated team that can maintain the operation running smoothly is a key aspect to consider when acquiring businesses.
When recruiting, it is important to consider tools such as personality tests or develop sufficiently lengthy processes to evaluate the fit between the individual's values and those of the company.
When acquiring a business, it is crucial to delegate tasks to competent leaders and have faith in their work without micromanaging everything.
The organic outcomes achieved by the teams lead to increased satisfaction and foster their growth in assuming responsibilities.
Acquiring businesses in growing markets allows for capitalizing on their potential and driving further expansion.
Understanding the competitive positioning of a business is crucial for long-term success, knowing factors such as unique products or services, strong customer relationships, and innovative technology are key when acquiring a new business.
Acquiring businesses with scalable models allows for leveraging synergies and operational efficiencies, maximizing overall growth and profitability.
Cultural fit: Seeking businesses with a similar mission, values, and work culture to one's own company facilitates collaboration, employee engagement, and customer satisfaction during the integration process.
Episode Highlights:
[00:00 - 1:20] Intro
[01:20 - 3:25] Mergers and Acquisitions in the Mid and Lower-Market
[03:25 - 07:20] How Joe Wechsler Found Success in the Mid-Market M&A Space
[07:20 – 9:32] Joe's Advice on Gaining Momentum
[9:32 – 10:48] A Fit Team: The Key to Building a Strong Foundation
[10:48 – 13:04] Risk Reduction Strategies in Business Acquisitions: A Guide for Investors
[13:04 – 15:25] Diversifying Success: Building a Thriving Business Portfolio
[15:25 – 17:10] Acquiring Stable Businesses: The Key to Success for Investors
[17:10 – 19:32] EOS: The Tools You Need to Manage Multiple Businesses
[19:32 - 20:35] The ROI of Being a Mentor for Your Teams
[20:35 - 29:40] Efficient Hiring Strategies: How to Find the Right Talent Fast
[29:40 - 41:10] Balance Your Projects with Your Personal Life
In God we trust