My guest, Ryan Galea, is the first guest in a CEO series I’m doing with search CEOs who acquired their companies within the last 3 years and have early lessons and emotions in their very recent, or current, memory. The series aims to learn strategies and hear stories from early career CEOs about how to manage the first couple of years running a new company.
Ryan acquired VoiceFriend in August of ’21, a communications platform for nursing homes and senior living facilities. Then less than a year later acquired a second business Caremerge which offers engagement software for senior living. Ryan and I discuss managing people and tasks, internal communication, change management with an acquisition vs a merger, and what’s gone differently than expected.
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(4:25) – Ryan’s career
(10:48) – How do you Prioritize tasks and which ones to delegate?
(11:59) – What’s your process for training someone to do a task you’ve previously done yourself?
(13:56) – How do you think about the way you phrase things given your role as CEO?
(16:01) – What made you decide to get a law degree?
(17:20) – Has your time horizon shifted as you’ve been able to delegate more of the business?
(18:37) – How has this shift affected your priorities?
(20:09) – Was there a critical point that allowed you to become more strategic as a CEO?
(22:09) – What are some of your biggest learnings in the process of integrating acquisitions?
(24:08) – What were some of the differences between the initial acquisition vs. the merger?
(28:46) – What strategies do you use to clear uncertainty?
(29:43) – What has been your best win and toughest loss during your first 2 years?
(31:33) – What kind of advice would you offer a first-year CEO?
(33:28) – In what ways has your life as CEO turned out differently than you thought it would?
(34:12) – What’s a strongly held belief that you’ve changed your mind on?
(35:23) – What are some ways you try to identify really motivated people?
(36:23) – What’s the best business you’ve ever seen?
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Oberle Risk Strategies– Oberle is the leading specialty insurance brokerage catering to search funds and the broader ETA community, providing complimentary due diligence assessments of the target company’s commercial insurance and employee benefits programs. Over the past decade, August Felker and his team have engaged with hundreds of searchers to provide due diligence and ultimately place the most competitive insurance program at closing. Given August’s experience as a searcher himself, he and his team understand all that goes into buying a business and pride themselves on making the insurance portion of closing seamless and hassle-free.
If you are under LOI, please reach out to August to learn more about how Oberle can help with insurance due diligence at oberle-risk.com. Or reach out to August directly at [email protected].
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