Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Kirk Michie, Founder of Candor Advisors, located in Carlsbad, CA, USA.
What's your business, and who are your customers?
Candor Advisors provides transaction advisory services to successful founder-led businesses. Developed by Kirk Michie, who has raised more than $1 Billion of capital, reviewed 2000+ direct investments, and participated in more than 50 M&A transactions, Candor Advisors guides founders to better outcomes.
Tell us about yourself
I've been in the investment and finance business for over 30 years. I've been a client-facing financial advisor, private equity investor, business builder, strategist, and most passionately, a guru, guide, and gladiator for founders seeking a suitable capital event for their company. I LOVE playing all three of those roles with successful founders!
What's your biggest accomplishment as a business owner?
We're approaching $ 1 billion in transactions where we've been involved over the past 15 months, which is gratifying and, as a headline, very significant.
More importantly, we've helped those founders identify their WHY in selling, and equally gratifying are the instances where we've guided founders to value enhancements and postponing their sale plans or even chasing away predatory buyers on behalf of sellers who might have given up way too much value for far too little compensation. It's finding the alignment for them that animates what we do every day.
What's one of the hardest things that come with being a business owner?
There are a lot of things in life that are hard. Truly hard. Being a business owner has challenges for sure. Still, they're more like tradeoffs, like when to decide you've put in enough for the day or when to make a tough decision about an employee or business partner. However, I'm still enjoying it, even the challenging parts.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
Well, the first one, to echo comments from Mark Cuban and Scott Galloway, both massively successful entrepreneurs, would be, don't follow your passion but follow what you're good at, especially if there's enough in that category to make an impact.
Then, figure out who's on your personal and professional advisory board, and be accountable to them. Being an entrepreneur can be isolating, so develop resources and connections for collaboration.
Lastly, be willing to pivot, or as Seth Godin talks about, make a rational assessment of where you are about what he calls "the dip." That's a trough where you decide to forge ahead on a great plan or abandon a losing cause. Not so much with your business broadly but with strategy and tactics. Keep pushing, but pay attention to the data and learn.
Where can people find you and your business?
Website: https://candor-advisors.com/
Facebook: https://www.facebook.com/KirkMichieCandorAdvisors/
Instagram: https://www.instagram.com/bkminvest/
Twitter: https://mobile.twitter.com/kirkmichie
LinkedIn: https://www.linkedin.com/in/kirkmichie/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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