EP79: One and Done Is the Loneliest Number

Today, our Market Dominance Guys, Chris Beall and Corey Frank, interview Gregory Smith, CEO, G Group Holdings. Corey introduces Greg as an “M&A whisperer,” which Greg lives up to as he reveals insights gleaned from his work with mergers and acquisitions. How can he tell if a company is going to survive and thrive? Greg says that he begins with two questions: “Does your company’s product or service fill a particular niche? And does your product or service solve a specific problem for customers?” Greg then warns our podcast listeners against being a “one product or service — and done” business. As he explains it, you can occupy a great niche and have a fabulous customer solution, but you need to continue to develop and augment what you’re offering. He illustrates his point with an example from Starbucks’ early days in business and then goes on to tell a cautionary tale of a company that pioneered bacon-infused vodka.

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The guys switch over to talking about customer service and how your company’s treatment of customers defines your business more than any product or service ever could. You won’t want to miss this eye-opener and other examples of what can cause businesses to succeed or fail on today’s Market Dominance Guys’ episode, “One and Done Is the Loneliest Number.”

 

About Our Guest

Gregory Smith is CEO at G Group Holdings.  Gregory Smith is a Senior Executive with extensive experience starting, growing, selling, managing, and acquiring Electrical Distribution companies with revenues between One Million and Two Hundred Million dollars.

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The complete transcript of this episode is below:

 

 

Corey Frank (02:19):

Chris, good afternoon.

Chris Beall (02:23):

Corey, is that you?

Corey Frank (02:26):

Once again. We have a special edition today where this is the... Is this the drinking edition of the Market Dominance Guys? I think it is, right? So Chris, what have you got there in your glass?

Chris Beall (02:35):

This is would be Macallan 12. It's nice and simple. I'm just having it with my favorite accoutrement, air.

Corey Frank (02:41):

Air? Probably a nice soft [bree 00:02:46], okay. As for me, I am drinking a Jocko white pomegranate tea. And if you've noticed, we have a special guest in the other panel here of our discussion. We have Greg Smith. Greg, we're honored to have Greg today.

Corey Frank (03:00):

Greg is an M&A whisperer, a true dirt floor operator. And I think many times, Chris, when we talk about the Market Dominance Guys, we are enamored. We are seduced by people who have taken a lot of these practices and dominated a market. And I think Greg clearly as we uncover and unpack Greg's story, that he's done it again and again.

Corey Frank (03:25):

So he has the unlock code for many entrepreneurs and for many businesses that are just existing and not growing and how to kind of bust out. So Greg welcome, and what's in your glass?

Gregory Smith (03:40):

Thanks guys. It's a pleasure to be here. And I don't know about the unlock code, but I guess if you rate the number of mistakes I've made in my 40 year career, they're pretty extensive. So I guess mistakes sometimes can equate into lessons learned. So yes, I am drinking Don Julio 70 on the rocks and the secret there is two lime wedges and a splash of orange juice, just a splash.

Gregory Smith (04:07):

And I th