Today we are replaying my conversation with Justin Ishbia. Justin is the Founding Partner of Shore Capital. Shore is a private equity firm that invests in microcap businesses within industry niches. With $7 billion in capital deployed but an average transaction size of just $12 million, Justin has worked to build a system to drive success for hundreds of businesses through replicable operating procedures and championing young professionals.
The firm has created a moat around volume with nearly 600 acquisitions over the last three years, some of the highest numbers in the world. We discuss identifying growth prospects, constructing a meaningful board, and the business mentality behind main street, not wall street, as Justin puts it. Please enjoy my conversation with Justin Ishbia.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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Show Notes:
(00:00:00) Welcome to Invest Like the Best
(00:03:07) The Role of Early Career Energy in the System
(00:07:47) The Importance of Being Thematic and Process-Driven
(00:08:25) The Journey of Building a Business
(00:09:50) The Perfect Shore Capital Deal
(00:15:44) Building Competitive Advantage through Volume
(00:19:02) The Role of Board Members in Investment Success
(00:25:10) Choosing Industrial Subsectors Over Software
(00:29:37) Identifying Industry Leaders
(00:34:15) The Process of Identifying Potential Investments
(00:37:35) The Impact of Business Consolidation on Reputation
(00:46:33) Exploring the Concept of Unfair Advantages
(00:51:03) Building Platforms, Not Buying Them
(00:52:16) The Power of Operations and Knowledge Sharing
(00:57:36) The Excitement of Sports Franchise Ownership
(01:09:48) The Kindest Thing Anyone Has Ever Done For Justin