EP21 Intentional Business Acquisition with Russell Benaroya

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Russell Benaroya is an entrepreneur with a background in corporate finance and private equity. Prior to becoming a Partner at Stride, Russell was the Senior Vice President of Corporate Development for Higi, a population health enablement company that owns the largest national network of health screening stations. He was an investment professional for the private equity firms Kline Hawkes and Blue Point Capital, where he invested in healthcare, technology, and industrial-based enterprises. He is also an author, entrepreneur, coach and speaker focused on helping people achieve their highest and best use by staying in their genius zones.

Episode Highlights:

    • In the past three and a half years, he purchased a company with some business partners. Now, they own an outsourced back office, accounting, and bookkeeping firm. It’s called Stride services.
    • Their desire to purchase the business was really a result of not wanting to enter a business where they didn’t have to prove product market fit.
    • How they obtained the idea to find a business that was small enough for them to fund themselves and be able to own it without the involvement of a third-party investor.
    • How did Russell come to decide to purchase a small business? 
    • In his book, One Life to Lead, he discusses some components of action.
    • Russell talks about what it is like to be an entrepreneur who wants to buy a business and how and who you surround yourself with.
    • Why he highly recommends organizations like EO for entrepreneurs.
    • Their target business size was one in which they could self-fund and not seek outside funding.
    • How he was open to the possibility of possibilities when he bought his business.
    • His business helps professional service companies with the services it provides:
    • For someone interested in buying a business, he clearly defines stories versus facts.
    • Stories vs. Facts show up in a lot of different ways: between partners, in interpersonal relationships, and among employees.
    • They have an agreed-upon set of principles that guide their business decisions.
    • Even after buying a business, personal principles are very important.
    • Russell talks about energy gains and energy drains.
    • Neutralizing or eliminating entropy in your life.
    • When it comes to goal setting, why does Russell believe it is best to work backwards?

Tweetable Quote:

“We have a choice: We can either let fear drive us to retreat, or we can be courageous and take a leap knowing, you’ve always figured it out.” -Rusell Benaroyoa

“Patience is a form of action and it’s a form of discipline.” -Rusell Benaroyoa

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