GGOB + 21 Hats-1

 

About Our Podcasts

Podcasts for entrepreneurs, business owners, and leaders. These messages are brought to you directly from CEOs and business thinkers to help build healthier companies, better businesses, and better lives for both you and your employees.
 

The Temptation of Private Equity

Loren Feldman


 

Introduction:

This week, Shawn Busse, Jennifer Kerhin, and William Vanderbloemen discuss private equity. Both William and Jennifer have been getting emails and calls from representatives of PE firms who come promising all kinds of gifts—connections, expertise, money to invest in the business, and money to take off the table—which is why the temptation can be great. “If anybody even just offered me a three-day vacation, I think I would jump at it,” Jennifer jokes. But of course PE firms do exact a price, possibly including control of what used to be your business, which is why Jennifer says she wonders whether she should even take the phone calls. Entering the conversation, she says, feels a little like entering the Garden of Eden. Do you take a bite of that apple? Plus, Shawn thinks he’s found a better way to manage his company’s credit cards, and Jennifer gives us an update on her new website.

— Loren Feldman

 

When Private Equity Comes for Your Industry

Loren Feldman


 

Introduction:

This week, Dr. Randy Spencer talks about the changes that have been roiling the vet business. For one thing, that pandemic puppy boom we all heard about has brought additional stress to veterinary workers who had already had more than their share. For another, there’s been a wave of corporate money and private equity flowing into the industry. That sounds as if it could be a good thing. And in fact, Spencer says he’s been dodging a constant flow of acquisition inquiries for years. But the big money has also engendered considerable turnover and disruption, and in response, Spencer decided to sell 100 percent of his business, 1st Pet Veterinary Centers, to an employee stock ownership plan in 2021. The transition to an ESOP remains something of a work in progress, in part because veterinary people tend to be more focused on pets than they are on profits. “Veterinary medicine,” Spencer says, “is just the best profession in the world. In a way, it’s a service industry, but we get to serve pets. That’s why veterinarians get into it.”

— Loren Feldman

 

About The Podcast

GGOB + 21 Hats-1

The Great Game of Business has partnered with 21 Hats to bring the 21 Hats Podcast to all entrepreneurs in The Great Game of Business community! Hosted by Loren Feldman, this podcast offers real-world business insight. Tune in to stay up to date on today's business issues, hear real stories about organizational challenges leaders are facing, and take away strategies CEOs are using in the business world today. When you subscribe, you'll receive a weekly email notification of this podcast. Plus, receive a message any time a new podcast episode is published on The Great Game of Business "Change the Game Podcast."

 

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