Episode 75: Inside the Deal with Richard Addotta

In this episode of the Tech M&A Podcast, Richard Addotta, co-founder and CEO of WRM, shares his journey from working in utilities to founding a software development company focused on storm response solutions. He discusses the motivations behind selling his company, the changes in his life post-sale, and offers valuable advice for aspiring entrepreneurs. Richard emphasizes the importance of timing, expert guidance, and the personal fulfillment he now experiences as he transitions into a new chapter of life, focusing on family and personal growth.

 

Takeaways

• WRM focuses on improving storm response through innovative software.
• The decision to sell was based on timing and business readiness.
• Life after the sale has significantly reduced stress for Richard.
• Having expert guidance was crucial during the sale process.
• Patience is essential when navigating the sale of a company.
• Richard is excited to spend more time with his family.
• He aims to be actively involved in his children's lives.
• The sale allowed Richard to achieve a better work-life balance.
• Richard's journey highlights the importance of recognizing personal and business milestones.

Chapters

 

00:00Introduction to WRM and Richard's Journey

03:02The Decision to Sell: Timing and Motivation

05:48Life After the Sale: Personal and Professional Changes

07:51Advice for Future Entrepreneurs