This week on Disrupters we hear from Troy Templeton, Managing Partner at Trivest Partners, where they help founder-owned companies grow and evolve in the ever changing marketplace by adding value to the organization without disrupting their culture or compromising their ideals and operational philosophies.
[1:06] “In order to move forward, sometimes you have to take a step back in order to get yourself back on the right path.”
[5:22] The unsexy and very successful investment portfolio at Trivest.
[12:35] How do you build domain expertise to become a business expert?
[17:22] Finding the balance between the family owned business strategy and the expert fiduciary.
[24:40] Troy’s message to entrepreneurs who are considering selling.
[28:08] Overcoming major setbacks in a disruptor’s career.
[33:09] Finding clarity in today’s volatile market.
Despite a corner office, staff and the promise of upward mobility, Troy found the right fit business for him in Trivest, where he is able to be an owner in a lot of different businesses and not only a provider of capital but as a leader who helps businesses grow. While he calls the investment portfolio at Trivest a relatively unsexy one, their 42 companies have a combined total sales at around $3.5 billion and have two things in common- they are all family owned and they are all successful. Trivest meets with over 10 times as many founders as the average private equity firm in America, and the payoff is evident in the sheer number of deals they are able to close on each year. As Troy puts it, at Trivest they are hunters, not gatherers.
So how did Trivest build the domain expertise to invest across different vertices, and how do you gain clarity to work through the doubts that always come with building a disruptive company? Troy shares insights into the less popular but more effective way that Trivest approached investments, with a focus on small family owned businesses rather than larger companies. And once they found their ideal audience, they realized that by focusing on that one thing that they were good at, it freed them up to do even more than before.
It hasn’t always been easy, but finding the balance between focusing on the strategy of the family founded business and giving enough latitude to the fiduciary expert has been a key to their success. Their Just Say No program has removed the pain points for founders that many other buyers are going to put in place.They don’t require companies to reinvest, they remove subordinated debt, and they don’t hold out any surprises until closing day like so many private equity companies do.
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Troy has a clear message for entrepreneurs who are considering selling their business, especially if they feel it is a sign of weakness to sell. First, the process is a long one and leaders need to be thinking about their exit strategy years in advance. Two, leaders need to contemplate and understand what role they want to play in the company once they have sold. Third, leaders need to be transparent about the process of selling with those that will be affected by the sale. Fourth, talk to more than one acquisition company so that you truly understand the value and comparison points of the sale.
Even more importantly, Troy shares the lessons that he has learned as a disruptor. Finding a simple answer to even the most complicated questions is often the solution to getting ahead, staying calm, and impacting lasting and positive change in any situation. To learn more about how you can make a positive impact on your investment portfolio, visit www.yieldstreet.com today.
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