Ep. 57 — From Startups to Multi-Billion Dollar Sales: Joe Kessinger’s Top Tips

Welcome to the "Show Me The Way" podcast with David Seitter

In this episode of "Show Me the Way," Dave and guest Joe Kessinger, Exec VP at DeBruce Companies, to discuss his varied experiences from founding investment funds and running CEO roundtables. He also delves into the intricacies of starting, buying, and selling businesses, emphasizing the emotional and operational challenges of selling.

Ep. 57 — From Startups to Multi-Billion Dollar Sales: Joe Kessinger’s Top Tips

Joe Kessinger's career is nothing short of impressive. Known for wearing many hats, Joe has been involved in various capacities, from running a family office to leading CEO roundtables, starting up investor funds, and operating current funds. His journey encompasses significant roles, including being a CEO and an M&A advisor - Joe has seen it all.

A Journey Through Joe’s Early Life and Career

Joe eloquently recounts his humble beginnings in Kansas City, Missouri, and his initial steps into the entrepreneurial world by selling candy bought from a dime store to school kids during recess. His educational path led him to the University of Missouri, a family tradition passed down through generations.

From Accounting to Entrepreneurism

Joe’s father advised him that accounting was the best degree for understanding the language of business. Although Joe considered law and philosophy, he ultimately pursued accounting, leading to his first job at KPMG. However, his stint there wasn't long as he realized his passion lay more in finance than in accounting.

Working with a startup firm that later became Cerner Corporation, Joe transitioned into the world of capital finance and equity raises, setting the stage for a long career in entrepreneurial investments.

Learning and Growing Through Business Ventures

Joe's narrative takes listeners through his various roles and lessons learned. He discusses his time at UMB managing venture capital investments, his involvement with the Bi State Investment Group, the challenges of buying and turning around a struggling electronics manufacturing company, and eventually selling it, thus experiencing the full cycle of acquiring, rebuilding, and exiting a business.

Steps to Acquisitions and Lessons Learned

Joe shares practical advice for those looking to buy a business. He emphasizes understanding why you want to buy a business, the importance of soul-searching to narrow down what kind of business suits you best, and the reality of the hard work involved.

The Entrepreneurial DNA

Dave brings up the crucial topic of what it takes to be an entrepreneur. Joe believes that the essence of being an entrepreneur comes from within. It’s a balance of strategic thinking, a willingness to take risks, and having a forward-thinking mindset. Being coachable and surrounding oneself with smart people is also vital.

Selling a Business: The Emotional and Practical Aspects

Transitioning to the sell side, Joe talks about the challenges many business owners face. Beyond the financial preparation, the emotional readiness to let go of a business is paramount. Joe advises business owners to start preparing at least three to five years in advance, both financially and emotionally, for a smoother transition.

The Role of Tiger 21

Joe introduces Tiger 21, an international group focused on helping affluent individuals manage and grow their wealth post-liquidity events. It's a platform for peer-to-peer learning on topics such as investment strategies, wealth preservation, family dynamics, and philanthropy.

 

Dave wraps up the episode by acknowledging Joe Kessinger’s vast experience and contributions to the business community. Joe's journey offers invaluable lessons for both aspiring and seasoned entrepreneurs. For those looking to connect with Joe, you can find him on LinkedIn.

 

 

 

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