Owner Operated with Jonah Pollone

Alex Mihajlov and Trevor Chambers are wealth advisors at Olde Raleigh Financial Group, an independent financial advisory firm in Raleigh, NC.For a summary of the episode, check out https://jonahpollone.com/newsletter/Schedule a wealth management consultation here: Olde Raleigh Financial Group.Thank you to our sponsors:MidStreet Mergers & AcquisitionsOn Tops Roofing

For a summary of the episode, check out https://jonahpollone.com/newsletter/Visit Cumberland Landscape Group here: https://cumberlandlandscapegroup.com/Visit Talents Equity here: https://www.talentsequity.com/

For a summary of the episode, check out https://jonahpollone.com/newsletter/Support Power Mulch here: http://powermulchinc.com/

Katherine Dunlevie is the Executive Vice President and Managing Director of the Family Office at Synovus, a family office headquartered in Columbus, Georgia, focusing on families with wealth in excess of $25 million. We covered: - What is a family office?- When does it make sense for a family to hire a family office?- Starting in the business right before signing a 55-family member client with 17 family units.- Single vs. Multi-Family Office- Qualities of successful family businesses- Using trusts as planning entities- Using communication to solve family issues- Top recommendations for family business owners- UNC Family Enterprise Center Resources- Family business peer councils- Servant leadership- Seeking out mentors- Family Business Magazine--- Subscribe to my newsletter to get updated every week with a new episode at jonahpollone.comKnow a business owner looking to exit in the next few years? Visit midstreet.comHave a neighbor in the Triangle who needs a new roof? Check out On Tops Roofing.Connect with me on LinkedIn---Learn more about Synovus Family OfficeReach out to Katherine on LinkedInLearn more about the UNC Family Enterprise CenterConnect with the Family Enterprise Center on LinkedIn

Nick Earls and Eric DiNicola are co-founders and managing principals of Winterspring Capital and co-owners of PWN Development based in the Greater Boston area. Winterspring Capital is a real estate syndication firm with a portfolio of $56 million in multifamily assets under ownership throughout the Southeast and Boston. We covered:Getting started in real estate developmentBalancing development with long-term hold investment propertiesSelf-funding deals vs. raising capitalReal estate syndication: 506B vs. 506C rulesBuying real estate under LLCs vs. starting a real estate fundHiring and managing sub crews and employeesHandling partnership disagreements and best practicesDon't blame people. Even if it's someone else's faultThe benefits of stoicism for small business and real estate professionalsDealing with inflation through investing in real estateFractional ownership of properties through investing in real estate syndicationsWhy you should call local lenders firstDTI (Debt-to-Income) Ratio when starting out in residential real estate"House Hacking" as a way to get into real estate investingHow to protect yourself as a small business ownerRelevant show links:Passive Income Through Real Estate for Small Business Ownershttps://winterspringcapital.com/retire-early/https://www.equitymultiple.com/blog/commercial-real-estate-practice/preferred-returnhttps://winterspringcapital.com/what-is-a-real-estate-syndication-for-multifamily-investing/https://www.samofinancial.com/what-is-syndication-and-why-use-different-rules-506b-versus-506c/https://www.investopedia.com/terms/a/accreditedinvestor.asphttps://www.crowdstreet.com/resources/topics/investing/internal-rate-returnhttps://dailystoic.com/---Want to learn about selling or buying companies? Visit https://www.midstreet.com/blogHave a neighbor in the Triangle who needs a new roof? Check out https://ontopsroofing.com/Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/Connect with me on LinkedIn – don't be afraid to say hi!---Learn more about Winterspring Capital Support Lucky Puppy Society

Mel Phillips is the president and co-owner of Product Recovery Management, PRM Filtration, and Triangle Stainless, alongside his brother, Brian Phillips. Operating out of a 150,000 square-foot facility in Butner, North Carolina, PRM manufactures environmental treatment systems and offers field services for equipment, including installation, setup, and maintenance.We covered: Overcoming growth barriers in a small businessThe journey from electrical contracting to environmental remediationThe benefits of acquiring companies in related industriesGrowing up in the family businessKeeping work at workHow to learn and improve from mistakesWhy Mel recommended his daughters go to collegeA decade of financial hardships – what you don't seeHow to hire and keep good peopleWhere the business is headedMore---Visit shop.prmfiltration.com---Subscribe to my newsletter to get updated every week with a new episode at jonahpollone.comConnect with me on LinkedIn

John Rumsey is a co-founder and managing partner of RHA Wealth in Raleigh. John started his practice in 2020 and worked as a wealth manager under Merrill Lynch since 2010 prior to starting his own company. John originally thought he'd pursue in a career in academia but transitioned to teaching people about how to better manage their money. We covered:Taking the leap into entrepreneurship from the corporate worldWho should you take financial advice from? Practical tips for personal financial habitsHow large should your emergency fund be?Dave Ramsey's 7 Baby StepsShould you invest in a 401K?Why you should always know the value of a businessBuilding a book of business when you first start a companyHow to think about cryptocurrency in a portfolioThe benefits of joining Entrepreneurs' Organization (EO)Setting up your network instead of viewing everyone as competitors---Visit RHA WealthConnect with John on LinkedIn.---Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/Connect with me on LinkedIn

Lane Riley is the previous owner of Happy Home Heating and Cooling, a residential HVAC and plumbing services company that has been in operation since 1955. Lane purchased the company in 2010 and grew it from $1 million to $6 million in sales. In 2021, he sold the business and is now enjoying being semi-retired while considering his next business endeavor. We covered: • Acquiring a business using seller financing• Going from 7 to 21 employees• How to grow sales and profitability in a home service business• Prioritizing family over work• A 3-criteria filter for making decisions as a business owner: is it good for the customer, employees, and business?• Growing from 100 to 2,500 maintenance contracts• Building skilled employees from the ground up• The importance of consistently training your employees• The secret to successful sales roleplay• Marketing tips for service-based business---https://www.happyhomeheatingandcooling.com/---Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/Connect with me on LinkedIn: https://www.linkedin.com/in/jonahpollone

Scott Maitland is a business owner, military veteran and professor of the practice in entrepreneurship at UNC-Chapel Hill. A graduate of West Point, he is the proprietor of Top of the Hill Restaurant and Brewery, an iconic Chapel Hill restaurant which has won more than 40 best-of awards in the Triangle area. Scott has a passion for Chapel Hill and small business ownership and sits on the board of several North Carolina business and trade organizations. We covered: How Scott got started in business ownershipEntrepreneurship as a life philosophyHow to add partners to a business venturePrinciples he follows to run Top of the HillAdvice for students pursuing a career in investment banking or consultingUnicorn Entrepreneurship vs. Old School EntrepreneurshipAchieving balance in an imbalanced wayWorking on the business vs. in the businessThe hidden advantages of turnover in businessThe advantages small businesses offer to their communitiesVisit Top of the Hill Restaurant and Brewery in Chapel HillMan in the Arena Speech by Teddy RooseveltThe Happiness Lab podcast What Franklin Street looked like after North Carolina won the 2017 national championship (TOPO is in the top left)---Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/Connect with me on LinkedIn: https://www.linkedin.com/in/jonahpollone

In this solo episode, I cover:1. Surrounding yourself with the right people and considering a partnership2. Understanding business and your role as an owner3. Why you need to be a "self-starter" in a small business4. Setting your life up well and finding the right path5. Successful owners work ON the business, not just IN the business6. The importance of learning and continuing to progress over time-Know a business owner nearing retirement? Visit https://www.midstreet.com/Scott Stone sold to Heritage: https://www.lawnandlandscape.com/article/heritage-acquires-2-stone-companies/Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/Connect with me on LinkedIn: https://www.linkedin.com/in/jonahpolloneFollow me on Twitter: https://twitter.com/jonahpollone

Josh Swindell is a partner at Envision Homes, a Raleigh-based homebuilder. Erik was the listing broker under MidStreet Realty on The Park at Wimberly, a 130-residential lot development purchased by Envision with a mix of townhome and single-family construction. We talked about:- The process of home development- Erik's crazy offer on a single-family home in the Triangle area ($41,000 over asking and still not the winning bid)- Managing expectations as a commercial real estate listing broker- Managing a partnership of three people “three-legged stool”- The zoning process- How to practically manage your time - The importance of having mentors- Finding the “flag on the hill?”- Next steps for Envision Homes – a mile deep vs. a mile wide- Growth in the single-family “for rent” product---Envision Homes: https://www.envisionhomesnc.com/---Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/Connect with me on LinkedIn: https://www.linkedin.com/in/jonahpolloneFollow me on Twitter: https://twitter.com/jonahpollone

Tim Hunter is a Business Development Officer for Fidelity Bank, based in Raleigh, North Carolina. Tim and I bonded over our mutual appreciation for small and blue-collar businesses. We covered: Why would you use a bank as a small business owner?How to interview lenders as a business ownerBenefits of a community bank for a small businessDo you need to offer a personal guarantee?The importance of doing business in a niche you understandBank "quotas" on lending to specific types of industriesProcess and structure of a community bankFamily time as a way to decompressThe importance of having an inner circle of advisors ---Fidelity Bank: https://www.fidelitybank.com/---Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/Connect with me on LinkedIn: https://www.linkedin.com/in/jonahpolloneFollow me on Twitter: https://twitter.com/jonahpollone

In this Owner Operated Afterhours episode, Erik Sullivan, my close friend & coworker, joins me to crack open a couple of beers and chat about his journey in small business, finding the right career path, and explain why everyone should own a business once in their life. We talk about: Erik's journey from videographer (rapper) to dealmaker at MidStreetReflections on the Owner Operated PodcastErik's role at MidStreetThe impact of personal development on Erik's lifeFinding your “lane”“Regular reevaluation”Why everyone should own a business once in their lifeErik's takeaways from successful business exitsHis craziest and best deal storiesErik's favorite companiesErik's interest in precious metals---MidStreet Mergers & Acquisitions https://www.midstreet.com/Mill Tek Toll GrindersThe New Case for Gold by Jim RickardsHidden Secrets of MoneyWhy the U.S. Government Seized Citizens' Gold in the 1930s Zodiac---Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/Connect with me on LinkedIn: https://www.linkedin.com/in/jonahpolloneFollow me on Twitter: https://twitter.com/jonahpollone---Thanks to this show's sponsor, OnTops Roofing, servicing the Triangle area. With a long-standing commitment to quality work and customer service, OnTops has grown to be recognized as one of the most respected roofing contractors in the Triangle. They offer roofing work, window replacements, siding replacements, and gutter installation services. Check them out at ontopsroofing.com.

Melissa started Full Circle Private Wealth Management of Raymond James in 2019, after a career in investment banking and private equity. We talked about:The role of a wealth managerThe importance of building trust in small businessWhy wealth management goes far beyond investment managementWhen to hire a wealth managerThe team-based approach to providing advice to the business ownerWealth manager vs. a family officeFee-based vs. non-fee based wealth managementFactors to consider about selling a business to private equity---FullCircle Private Wealth of Raymond James: https://www.raymondjames.com/fullcircleprivatewealth/about-us---Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/Connect with me on LinkedIn: https://www.linkedin.com/in/jonahpolloneFollow me on Twitter: https://twitter.com/jonahpollone

Today, I sat down with Alex Brandwein to talk about his journey from being a successful investment banker in NYC to starting and growing Brandwein's Bagels in Chapel Hill, North Carolina.We covered:Avoiding burnout and keeping up with your mental health as a business ownerStarting out in the restaurant industryMaking the jump from a job in banking to owning a small businessTips on hiring the right employeesExample interview questions for prospective employees Backing out of the business to allow it to grow"Work life balance" isn't a real thing---Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/Connect with me on LinkedIn: https://www.linkedin.com/in/jonahpolloneFollow me on Twitter: https://twitter.com/jonahpollone---Visit Brandwein's Bagels in Chapel Hill: https://www.brandweinsbagels.com/Traction by Gino Wickman: https://www.amazon.com/Traction-Get-Grip-Your-Business/dp/1936661837/ref=sr_1_3?dchild=1&keywords=traction+book&qid=1619582020&sr=8-3The E-Myth by Michael Gerber: https://www.amazon.com/Myth-Revisited-Small-Businesses-About/dp/0887307280/ref=sr_1_1?dchild=1&keywords=e+myth&qid=1619582058&s=books&sr=1-1Setting the Table by Danny Meyer: https://www.amazon.com/Setting-Table-Transforming-Hospitality-Business/dp/0060742763

In this episode, we sat down with Bill Edwards and talked about his background and journey in the firearms business. Bill founded Triangle Shooting Academy with his business partner Jeff in 2010. They operate out of a 40,000+ square foot facility by RDU Airport in Raleigh, North Carolina. Their trainers perform firearm instruction to over 700 people every month, and their retail facility is one of the most trafficked firearms stores in the Southeast. This show features a special guest: my close friend, colleague at MidStreet, and UFC watch party companion Erik Sullivan.We covered:Bill's story and journey from commission sales in manufacturing and real estate to owning a "Guntry" club"Speed dating” to find a complementary business partnerThe importance of following your passion find the best path for you- The power of having a peer group within an industryThe future of Triangle Shooting Academy---Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/LinkedIn: https://www.linkedin.com/in/jonahpolloneTwitter: https://twitter.com/jonahpollone---Visit Triangle Shooting Academy: https://www.triangleshootingacademy.com/index.cfm?Listen to Bill's feature on Triangle Radio: https://www.buzzsprout.com/1152746/4901219Walk for Hope: https://walkforhope.com/events/walk-for-hope/

In this episode, I spoke with Ed Nicholson about the story behind his family business. Ed and his sister Edith own and operate Capitol City Lumber, a Raleigh, North Carolina-based lumber provider servicing the Southeast. We covered:The dynamics involved with owning a 70-year old family businessThe importance of not being over-leveragedAdvantages of staying smallManaging isolation as a business ownerThe benefits of having a partner with a different skillsetWhy you should have your finger on the pulse of your company's booksLife outside the business matters---Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/LinkedIn: https://www.linkedin.com/in/jonahpolloneTwitter: https://twitter.com/jonahpollone---Capitol City Lumber: https://www.capitolcitylumber.com/Anna Karenina by Leo Tolstoy: https://www.amazon.com/Anna-Karenina-Leo-Tolstoy/dp/0143035002

In this episode, I explain the purpose of the podcast and give some context on my background. Small business is an awesome path.---Subscribe to my newsletter to get updated every week with a new episode: https://jonahpollone.com/LinkedIn: https://www.linkedin.com/in/jonahpolloneTwitter: https://twitter.com/jonahpollone