Episode 72: From Scale to Sale: Key Insights From a Founders Journey with David Hartin.

Ever wondered what it’s like to become a huge success in the corporate world and then pivot into entrepreneurship? Are you currently working in a corporate day job and wondering if this is an option for you too? Well, in today’s episode we are taking a walk in the shoes of just such a person. David Hartin was given the opportunity to leave a lucrative job high up in a large wireless cellular carrier and launch a startup company in the same industry. Along his journey, he has learned many valuable lessons in what is required to take a small startup to a prospering business and eventually to the sale of the business for profit. Enjoy today’s episode as we discuss crucial elements of a successful and sellable business.

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3 Key Takeaways

1. Create businesses that are intended to last and leave a legacy rather than just to flip as a quick sell.
2. Don’t be unequally yoked in your business relationships. Invest in business partnerships with those who are like-minded and share the same core values.
3. Don’t hire employees to rescue them, hire employees to serve your customers and solve their problems.

Show Notes

What brought Dave Hartin into the wireless industry?

• David loved school. When there was an opportunity to stay in school another year and work in the field of that major he took it. 
• Because of this during college, David had the opportunity to work at a startup entrepreneurial company called Powertel that was an early GSM cellular network provider.
• Little did David know that Powertel was gonna become the basis of the southeastern portion of what would soon be T-Mobile.

"I’d love to say I just had this vision that wireless would be the next big thing, but I was honestly just in the right place at the right time!" - David Hartin

Top three takeaways from leaving Sprint to launch a startup. 

• Don’t try to separate your spiritual life from your work life. Your faith should directly impact your work and purpose. 
• Don’t make decisions apart from the Lord and godly council. Always pursue the Lord in prayer with any changes be they large or small. 
• Don’t become unequally yoked. Consider carefully the partners you choose in business, that they have similar core values and beliefs. 

"Sometimes you just have to gut it out in difficult work environments. Our business was successful but the relationships were not." - David Hartin

Lessons gleaned while exiting one startup to launch another.  

• Expect challenges out of the gate and trials to come against you from the get-go. 
• Do your best to take your exit graciously but be prepared for retaliation from the previous team. 
• Be wary of who you bring in as an investor as oftentimes they can quickly become the true leadership. 

"I’m actually glad in retrospect that investor fell through. I think we would’ve ended up in a situation where our investor is acting like our CEO." - David Hartin

Four crucial steps to building a compelling brand that is easily sellable. 

• Invest in the mission and core values of your company and foster a culture that lives and breathes that mission. 
• Hire the best and the brightest employees and don’t fall for the trap of “rescuing” those that have struggled in the past. 
• Don’t mingle personal finances with business finances. It can become a mess that will deter potential business buyers.
• Be wary of adrenaline burnout. Don’t overtax your team, be prepared to make more strategic hires to ensure the healthy lifecycle of your employees. 

"You can’t design your company to be easily sold. You’ll end up with a movie set company, where it looks good on the outside but not on the inside. The most sellable business is the one you don’t want to leave." - David Hartin

Three keys to living out your faith as a Christian CEO in the workplace.

• Lead by example. Establish your Biblically-based values and live them out. If you aren’t leading, you can’t expect your employees to follow. 
• As your company grows bring on a workplace Champlain who can foster employee spirituality and personal growth.
• Don’t be ashamed to pray in the workplace. What you’ll find is there are few situations where partners and employees will turn away prayer.

Resources For You:

• David recommends Andy Stanley’s Leadership Podcast linked below.

https://podcasts.apple.com/us/podcast/andy-stanley-leadership-podcast/id290055666

• Tony Hsieh’s book Delivering Happiness Book linked below. 

https://www.amazon.com/Delivering-Happiness-Profits-Passion-Purpose/dp/446576220

• Dave Ramsey’s book Entreleadership link below!

https://www.amazon.com/EntreLeadership-Practical-Business-Wisdom-Trenches/dp/1451617852

• If you need help building (or selling) a valuable business, reach out to Cathedral Consulting at [email protected]
• Questions for Seth? Send us your feedback at [email protected]

Pick up your copy of Ambition: Leading With Gratitude