Don’t be sad, it isn’t over yet. We are back with another episode of Exit Stories, proudly sponsored by Robinson Bradshaw. For the penultimate episode of Season Four, host Kevin Mosley is joined by Brice Englert, the Founder and CEO of Carrboro-based TradePending.
Founded in 2014, TradePending builds software that enables buyers and sellers to effectively communicate and understand the value of cars in the market. In this episode, Englert discusses his somewhat unique path from TradePending’s own acquisition by a private equity firm to the acquisitions and partnerships they’ve made together since then, along with key insights into the impact of having strategic professional career coaches.
Here are a few key takeaways from this episode:
- Be open to outside influences. Englert emphasized how grateful he is to have years of professional coaching behind him to teach him to recognize weaknesses and play into strengths. Having outside influences can keep founders humble and focused on the correct strategies to pursue first. (32:48, 38:00)
- Be humble with your company’s growth and understand what you really need. Englert learned and now coaches other entrepreneurs to solidify your business plan and build a real financial model. He said that you’re going to burn through your initial capitalization, so slow down, be patient and a little more humble to understand and focus on what and how much you need. (7:53, 33:03)
- Set clear guidelines and plans with your entire team. Englert emphasized creating or referring to a company’s “cultural manifesto,” something you can reference and go back to when talking to and recruiting employees. By being transparent and clear about expectations and integration plans, you can create an easy and comfortable work culture for everyone before, during and after an acquisition. (29:42)
Listen to the rest of the episode using the link below and be sure to subscribe so you don’t miss the final episode next week and future seasons (yes, we’ll be back for Season Five in 2024). Special thanks again to our Season Four sponsor, Robinson Bradshaw!