Chris accomplished what many entrepreneurs strive too and is willing to share what strategies grew value, his successes along the way and what he would do different if he were to do it again.
What You Will Learn in Today’s Podcast Interview:
Podcast Summary:
In today’s episode, Chris Carlson shares how his passion for driving snow mobiles let him to starting Sportech—the company’s original product protects the lights of snow mobiles from snow in order to see clearly while driving.
Chris tell his story about how he adapted the business to match the changes in the market, invested time and resources to further his own knowledge—including joining a peer group, understanding value growth, investment banking, and implementing EOS—and what he learned from his experience selling Sportech to private equity.
Chris went on to grow the company to over 100 million dollars in annual revenue, diversifying their products and target markets along the way. After successfully growing the company over 15 years, Chris sold Sportech to a private equity firm in November 2019 and received all of his cash up front.
I’m excited about today’s episode because Chris’s story clearly explains how investing in yourself as an entrepreneur can lead to long-term success, as well as illustrating the many aspects of selling a business he wishes he knew at the time.
We get to benefit from Chris’s experience as a business owner who accomplished what many people strive to achieve, while also recognizing that even incredibly successful companies and owners can benefit from understanding value growth with your end goals in mind, the difference between financial and strategic buyers, and the key components needed to approach a sale.
Go to ARKONA.IO/Assessment or text 66866 to take a two-minute, twenty question assessment that we’ve created to help you shift your mindset and focus on value-creating activities that will help you get what you want with your business.
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About the Guest:
Chris Carlson was the CEO and Owner of Sportech (a leader in OEM thermoformed plastic products). The company specializes in the design, development, and production of premium products and accessories for numerous markets including power sports. He bootstrapped that business out of personal necessity since he was a snowmobile enthusiast.
Chris grew up in an entrepreneurial family, and hopes to raise his kids in that type of environment as well.
Quotes:
11:55 – “It became fairly obvious that if we didn’t change, if we didn’t start working on products and developing products for ATVs and motorcycles and other areas (where I had passion but not equal to what I had for snowmobiles), had we not done that, our business would have died.” – Chris Carlson
19:45 – “It started with snowmobiles and I thought it had to be about snowmobiles but in the end it was really about value creation through design.” – Chris Carlson
34:00 – “I’m going to run this thing like it’s for sale, even though it’s not. Because it’s the right thing to do.” – Chris Carlson
Links and Resources:
Chris Carlson email: [email protected]
Envision Company: website
Mastering Your Cash Flow Digital Course
Reach out to me if you have questions about the boot camp!
You can also reach out to me via email at [email protected], on my LinkedIn.
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