The Boardroom Buzz Pest Control Podcast (The Boardroom Buzz)

Not a week goes by where Paul and Patrick don’t hear about Episode 10 with Mike Rogers (if you haven’t listened to that episode, you might want to before you listen to this one).

Any Buzz listener would agree that Mike is the kind of guy that you want to hang out with and chat about life and business. No stranger to automobile love affairs, the road trip was made complete with Dylan making the drive down from Tennessee. 

After spending time in Mike’s collector car showcase, the Rogers’ dining room table transformed into a recording studio to the benefit of Buzz bingers. Not only did it make for great coffee talk with a repeat guest, but the brains (and emotional stability) behind Killingsworth joined in on our Buzz banter. You’ll even hear Marley, the five-month old labradoodle, make his Buzz debut. 

What tales didn’t make the Episode 10 tapes? Which stories are worth revisiting with Debbie’s joyful laugh? As the Killingsworth Kouple reminisce on their business and life together, they dish out sage advice on business, life and relationships as well as incredibly funny stories of the early years in unlicensed pest control.

At the end of the episode, Paul finally confronts Makenzie, the talent behind Milk Bottle Cookies. Does Paul endorse the infamous cookie, enraging the Mex, or does he cast aside Patrick’s not-so-secret pleasure, winning the Mex’s praise?

Patrick’s takeaway : before returning to Charlotte, learn to drive a stick shift.

This week, Nick Gifford, president of Radix and founder of Diamond Lawns, joins Nick Bartolo and Patrick Baldwin as he shares his entrepreneurial journey—a story of grit, resilience, and teamwork. Building a business is no solo effort. Gifford attributes much of his success to the strong, dependable teams he’s built over the years. He emphasizes that finding the right people, who share your values and work ethic, can make or break your business. Hiring based on gut feeling and fostering trust among team members are strategies that have worked for him, but he admits there’s no foolproof formula. How do you know when you’ve found the right team for your business?

Gifford’s experience in door-to-door sales has been a defining factor in shaping his business philosophy. He believes there’s no better way to build resilience than by facing constant rejection on the front lines. To him, knocking on 100 doors a day wasn’t just about sales—it was about developing the grit to keep going despite setbacks. This relentless perseverance is essential not only in sales but in the broader world of entrepreneurship. How can facing rejection and failure more often prepare you for long-term business success?

Gifford reminds us of the importance of understanding your numbers. He’s seen too many businesses fail because they didn’t have a handle on their financials. Being proactive about your business’s financial health, from cash flow to profit margins, can prevent unnecessary risks and help you make informed decisions. Are you paying close enough attention to the numbers that drive your business decisions?

Audio mixing and editing by www.verbell.ltd.

Guest Bryan Dodge kicks off the interview as the host as you’ll hear him interviewing Paul. Young Paul was an entrepreneur in the… farming industry?!? From Cornell to investment banking to private equity, Paul opens up about his world traveling backstory with Bryan. 

It must be a prank when McGraw-Hill, one of the largest publishers in the world, calls you. It’s a good thing Bryan answered that call (twice) because he went on to write and publish The Good Life Rules in 2009. Shortly thereafter, Patrick received it as a gift, and you can say the rest is history. Although Bryan denies it, the book had an impact on Patrick’s life. It feels like today’s society requires formal education. It's a stark contrast as you'll hear about getting a job vs. making a fortune. 

The Boardroom conversation turns to Bryan's more recent book, The Principles of an Unstoppable Family Business. Bryan shares how the faces are different but the problems are the same, including overpaying family members. 

There are lots of nuggets in this interview. Take notes, and as you’ll hear, don’t be afraid to ask for help.

Don’t forget to pick up a free copy of one of Bryan’s books by emailing bryan@bryandodge.com & cc: thebuzz@potomaccompany.com (Don’t forget to include your shipping address)

Now, grab yourself a drink, give your grandkids a Red Bull, and send in your questions for Bryan’s Bonus Buzz.

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

You don’t want to miss this conversation with Byron Gifford. There are grandaddies of door-to-door, but there’s only one “great grandaddy”. Even before Eclipse, Byron laced up his tennies at SalesNet. See for yourselves; he’s older than he looks. Byron has more than his fair share of hard times. After running (yes, literally running) doors his second summer, the anticipated $60k backend came up really short. Lyme disease goes under the microscope in this memorable episode. Through financial and physical trials, Byron has found a way to overcome.

Pointe Pest was his baby. As you can imagine, in an interview filled with ups and downs, Pointe hit rock bottom for Byron. Based on personal experience, Byron shares his opinion on the looming disaster for leveraged D2D businesses. Forced to get out of pest control for a bit, Byron continued to sell in other industries. Pupil turned principal of the School of Hard Knocks, Byron put his money on “the turtle”, and returned to the pest industry.

From recruiting with projectors, pizza, and paystubs to leveraging sub-, senior-, and family- debt, Byron looks back at the D2D landscape over the years in this candid sit-down. Having just sold a couple Evergreen Pest Control branches in Colorado to EnviroPest an Anticimex platform, you know that there’s light at the end of the tunnel. Now stronger for surviving tough experiences, this conversation goes deep on mindset, success, and overcoming.

Quick question. If Paul got to choose the location for his mission, would it be Bangkok or Tijuana?

Watch now on YouTube

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Filmed, Edited, and Mixed by Dylan Seals of www.Verbell.Ltd

Additional Videography by Gabriel Gonzalez.

Additional Editing by Garrett Ware.

To sign up for Bubble Trouble, our May 4th Live Event, please visit bubbletrouble2022.com

Potomac Pest Control Group: potomacpestcontrol.com

The Boardroom is so glad you decided to join us for this communication session.

Chris Eby avoided the steady diet of government cheese, by jumping out of financial services and into pest control. Redirected from getting a law degree, he wanted to get the world by the tail, and wrap it around, and put it in his pocket!

He’s not here to “come down on you”, but respect has to be earned. Hear how Chris backdoored his way into the door to door industry. You don’t miss his approach to sales on the back porch either.

There are other names for knocking, such as crack, ice, boom, pow. Call it what you want, but cloning knocks and scripts can only get you so far. You need confidence on the doors, or you’re not gonna amount to Jack Squat!

Bundles are a great idea, but I can’t see real good…is that Bill Shakespeare over there? Coming from a guy that looks like Santa’s evil twin, he admits the mistakes of his bundle-only approach.

Reps are overpaid across the door-knocking industry. You can take a Moneyball approach…I wish you could just shut your big yapper!

We’re gonna be buddies! We’re gonna be pals! And we’re gonna pay your front line workers and managers! Chris expanded his company’s service offerings, but there came a point in which it made sense to partner with allied industries. He goes into detail about his allied partner incentives in this San Juan Boardroom chat.

The nicest, shrewd businessman you’ll meet already has plans for the future. He’s working on making a lasting legacy which starts with living in a lambo, down by the river.

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Filmed, Edited, and Mixed by Dylan Seals of www.Verbell.Ltd

Additional Videography by Gabriel Gonzalez.

Additional Editing by Garrett Ware.

To sign up for Bubble Trouble, our May 4th Virtual Event, send an email to... events@potomaccompany.com

Potomac Pest Control Group: https://www.potomacpestcontrol.com/

You remember those days of taking on every customer request as you were getting started. The only thing standard was saying ‘yes’ to get the job. It’s time to scale back to scale up in this chat about standardizing your service. Of course you want to go above and beyond to accommodate that potential client, but what if you can’t get them to fit in your box?

Maybe there is a place for concierge service. How can you make exceptions without compromising profit?

Surely your CSRs have ideas for days. Their pent-up creativity has to go somewhere, but where? You’ll hear when and where creativity belong in your business. 

Mr. Giannamore, your suite is ready.

Audio Mixing and Editing by www.verbell.ltd

In this episode, we spoke with Caleb Fabry, owner of Town & Country Pest Solutions in Rochester, New York. Caleb discusses the importance of a strong company culture and employee engagement. By using the Culture Index, he aligns team members with roles that fit their unique attributes while enhancing communication. How can utilizing culture tools help to retain team members, create mission alignment, and beat your financial goals?

A significant part of Caleb's marketing strategy involves a dedicated in-house team focused on video content and social media. This approach has helped Town & Country Pest Solutions build a strong online presence and engage effectively with customers. How might investing in professional video content and social media marketing benefit your business?

Learning from peer business owners has been crucial for Caleb’s success. Joining leadership groups has provided valuable insights and the confidence to implement new ideas. Caleb has embraced the word "yes" when it comes to new opportunities, even outside his comfort zone. Who is pushing you to reach new heights and implement new strategies?

Of all people, how did Patrick’s college friend Ryan Bishop get swept into the cleaning business? Ryan leads DTK Facility Services’s over 1,600 employees across 190 counties. Similarities between pest control and janitorial cleaning? Step into The Boardroom to find out.

Clean. Setup. Repeat. Ryan breaks down the complacency breakdown in this repetitive industry. Salesperson at heart, Ryan shares his project-based entry methods and balancing sales with the operations-side of the business.

Tune-in to hear about the highs and lows of channel partners, hiring, management, peer groups and more. With a state as wide as Fat Pat, how does Ryan drive culture and density across the great state of Texas? 

Audio Mixing and Editing by www.verbell.ltd

The King of Route Density, Tony Sfreddo, surprised us all in his Potomac TV debut. It’s time to take another shot in “The Great Civil War” compensation discussion. Does compensation affect the bottom line or M&A? Pick a team. Are you Team Tony, Team Patrick, or Team Seth Goes Both Ways? 

Both pay structures have their benefits and limitations, but listen for Seth’s creative incentive in this week’s episode.

From paychecks to diabetes, could it be a home run when it comes to CEO’s knowing their front line employees? Speaking of culture, which word du jour will send this conversation down a rabbit trail?

Anxiety fills the air when it comes to the economy, and the employment market is ever-changing. How’s this for a new concept: hiring for life. Would you subscribe to this method?

Hurricane Ian left a wake of destruction in the Ft. Myers area, but there is a great story you don’t want to miss. Listen in on the conversation with PestCo’s Jared Borg and Southwest Florida Pool Pros Chaz Hambling. Big Boardroom Buzz shout out to Infinite Pest’s Jason Woodbury!

Audio Mixing and Editing by www.verbell.ltd

Paul and Patrick compare notes from recent Potomac | TV episodes, wouldn’t you know it’d uncover Jarl Dahlfors Anticimex Road Show investor presentation? A quick conversation about Steve & Michelle Mote, Shawn Hollis, and Sebastian Tomassoni turns into a pop quiz comparing Patrick’s list of Sebastian’s list (Anticimex’s VP of M&A North America) and comparing it to Jarl’s Top 14 List.

Want to have some fun with this episode, and play along with The Boardroom Buzz? … Just like the Mexican’s love life, this won’t take long. Before you listen to this week’s episode, write down your list in order for comparison sake. And then, rank them.

Audio Mixing and Editing by www.verbell.ltd

Paul Giannamore and behind-the-scenes Producer, Dylan Seals discuss the past, present, and future of The Boardroom Buzz as well as the introduction of POTOMAC | TV, a YouTube Channel that seeks to delight, entertain and inform Service Industry owners and their families. 

Watch now at WWW.POTOMAC.TV

Produced by Verbell.Ltd

How much time is needed to train a technician to work independently? What strategies encourage technicians to expand their (non-upselling) sales skills, and is it advisable? Fat Pat and Seth delve into these listener questions and more this week. From scaling up clients to promoting from within, they dive into a few different topics.

If you were to create one standard operating procedure (SOP) now, what would it be and why? More importantly, is your focus better directed elsewhere? Just like most other answers on The Buzz, it's not necessarily a one-size-fits-all answer.

Audio Mixing and Editing by www.verbell.ltd

The locker room meets The Boardroom as Paul and Patrick visit with the newly appointed president of Nisus, Lee Barrett. It wasn’t just any ordinary agent that got Lee his start in pest control. The franchise leader pushed his West Coast way forward from the mailroom at US Borax to now president at Nisus. With 30 years under his belt in the industry, which type of coach is now at the helm of Team Nisus? 

Before running Nisus, Lee was reading eyes and patiently following his coach’s system. What did that teach him about sales and execution? There is a new game plan in place, and it calls for a real team effort. Lee opens up about adversity, the sport of business, and more in this motivating interview. Run for 4 yards.

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

Are you ready for another guest episode? Mike Hurley, the genius behind a thriving wildlife business, Xceptional Wildlife, joins the Boardroom to uncover the secrets to his success. Mike hits home the importance of ironclad processes in business growth. Drawing from his experience with Six Sigma, he emphasizes the power of identifying and perfecting process failures. How do you think implementing a structured approach to processes could benefit your own business?

Mike stresses the significance of choosing the right partner in business. A supportive partner can make all the difference, while the wrong one can spell disaster. To Mike, a great business partner can influence good in both your business and personal life. Have you ever had a business partner, and if so, how did they impact your professional journey?

Mike goes on to encourage us to embrace failure as a catalyst for growth. He believes discussing failures and learning from them is crucial for continuous improvement. How do you handle failure in your own business, and what strategies do you use to turn setbacks into opportunities for growth?

Audio Mixing and Editing by www.verbell.ltd.

Shelby Hawkins found herself in pest control with 3 kids, 2 college degrees, 1 ex-husband, and 0 business experience. Her maternal determination brought her from food stamps to financial freedom. As a pest control pioneer, Shelby broke the glass ceiling but in her humility, she credits providing for her kids. It wasn't hard enough that she was outnumbered as a female in pest control, but she found her state inspector making weekly visits.

Her female point of view set her apart during real estate interactions in Tucson, AZ. Ironically, real estate wasn’t ready for Shelby when it became time to buy an office.

Shelby attended a national trade convention, but still found herself as an outsider. Her determination kept her focused on learning from others. Years later, Shelby recalls Don Jamison offering a helping hand all the way from Memphis.

Is self-talk part of Shelby’s success? After reading Dr. Joseph Murphy’s book, Infinite Riches went from subconscious mind to landing in her lap. 

Listen to how entitlement and false loyalty surfaced when it was time to sell 5 Star Termite & Pest. Even in her retirement, Shelby is practicing what she preaches: get out of your comfort zone.

Enter Kevin Burns and Arrow Exterminators. Now with $280 million combined between 137 branch offices, Arrow was the perfect fit for Shelby’s business. The Boardroom debriefs on Shelby’s love for working in the field. Join us as Kevin shares from his sixteen years of experience watching owners unwind from their businesses. Arrow’s culture is clear as Kevin shares their goals to keep 100% of their customers and employees following an acquisition. Paul gives credit to Kevin, Emily Thomas Kendrick, and Tim Pollard as they welcome new team members to their Arrow family. Listen for that same family approach during the discussion of branch size and employee opportunities.

In terms of the global economy and pest control’s impact on world health, industry perception is no laughing matter. Who knew that encouraging training and licensing would put Patrick on his soapbox?

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

PCT Top 100 CEO Brian Goldman of Big Blue Bug Solutions joins hosts Fat Pat and Chase Hazelwood in the Boardroom this week. Brian shares the story behind their famous mascot, Nibbles Woodaway - a giant blue termite that has become an unofficial symbol of Rhode Island. The discussion explores how unique marketing can forge a deep bond between a business and its local community. Did you know Big Blue Bug wasn’t always Big Blue Bug?

The chat takes an intriguing turn as the three explore different perspectives on remote work. While Brian advocates for increased efficiency through careful time management, Chase grabs a stopwatch to measure his own processes. Despite the focus on productivity, Big Blue Bug Solutions maintains a positive work culture through events like their annual "State of the Bug" meeting. This sparks a thought-provoking debate: how can companies strike a balance between boosting efficiency and fostering a strong, supportive company culture?

Listeners are treated to insights into the Goldman family's four-generation success story, delving into their operational strategies and decision-making processes. From remote work challenges to sales model adjustments and process optimization, Brian's experiences offer valuable lessons for businesses of all sizes. As the episode wraps up, viewers are left to ponder: what's your biggest takeaway from this interview with Brian?

Audio mixing and editing by www.verbell.ltd.

The Boardroom dives into human resources, but it’s not all warm and fuzzies as former Terminix CHRO David Dart steps into The Boardroom. From his time in the US Navy to present day at Caliber Collision and everything in-between, David shares his experience on building high performance teams.

You’ll rethink your strategy and your pay plans as you listen through this episode that takes human resources to an executive level. From onboarding to training, there is no shortage of takeaways from this interview. 

Grab a pen and paper and do your best to keep up on David’s emphasis on operational models, organizational design, compensation, capabilities, culture, execution… the list goes on. Before listening in on this conversation, ask yourself - what’s more important: employee turnover or employee retention? 

Audio Mixing and Editing by www.verbell.ltd

Watch Here

You couldn’t ask for better weather as the duo enjoy Cuban cigars on Paul’s balcony. Paul makes time to chat as his firm works on closing out a banner year. Hop on over to YouTube, and watch Paul and Patrick reminisce on 2021 and look ahead to 2022. Merry Christmas from The Boardroom Buzz!

Filmed, Edited, and Mixed by Dylan Seals of www.Verbell.Ltd

Additional Videography by Gabriel Gonzalez.

Chase Hazelwood, owner of Go-Forth Pest Control, takes us through their remarkable journey from $2 million to an astonishing $25 million empire in just ten years. Curious about his winning formula? It's all about cultivating a high-performance culture. Chase tells us about his relentless focus on customer service and sales that skyrocketed productivity. How can you apply his strategies to supercharge your business?

Chase didn't stop at the surface level. He stresses the crucial role of training, transparency, and accountability in shaping a workforce poised for success. Creating an environment where slacking off is a major faux pas and where every team member is driven to excel is key. Do you have what it takes to put your people on a batting order and share those stats for everyone to see?

At Go-Forth, the team is on a mission to automate almost everything. Chase shares how they utilize AI and remove decision-making to improve efficiency. What can you not drill down to a checklist?

Audio Mixing and Editing by www.verbell.ltd

Last week’s inspirational episode with Shelby Hawkins still has The Boardroom picking up the pieces. Paul summed up Shelby’s interview best: ‘no excuses’. 

It’s a good time to catch up on Paul’s New Year’s Day board meeting. Paul gives feedback on the P&L’s, incentive structures, and management reports. There is a give and take to incentive structures. Who knew that a hedge fund conference on modern portfolio management theory would spiral into giving Dennis Rodman free throw lessons? How will Company Bravo’s “Timmy” stack up at the line? Where is the balance between incentives and preventing demotivation? It’s a yin and yang exchange. Speaking of balance, The Matrix gets a nod during this week's compensation conversation.

It’s on the record. Paul commits to writing a "Nerd Nerd" paper on the organizing mechanism spectrum in pest control companies. As the loyal listeners know, Patrick takes great joy in packing events on Paul’s calendar. As if Paul’s schedule isn’t busy enough, stay tuned for a combined presentation on the chart of accounts (Episode 26), employee metrics (Episode 34), and (an updated) Aftermath.

The chat has Patrick asking if there are common conversations following a preliminary valuation. Are there owners that are not willing to make changes? A simple question about routine EBITDA adjustments leads to a consultation on narratives and the ‘interplay between growth rate and profitability.’ It turns out, it’s a lot more than adding and subtracting when the acquirer takes over. Patrick didn’t see it coming, but the benchmarking debate returns.

Paul: “If anyone gets anything out of this episode. You are not selling the past. You are always selling the future.”

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

Grab a beverage, and join the Boardroom conversation about boardroom conversations. John Byrne, former editor at both Fast Company and BusinessWeek, goes into detail on the three collaborative works he did with businessmen Morton Mandel, Jack Welch, and John Scully. The conversation kicks off into his immersive work with Mandel in the book “It’s All About Who”. It’s a book that keeps on giving, or at least gifting. From Paul, that is. 

From befriending the books’ subjects to his hours spent in the archives, John dives into the process of distilling their success.  He even shares the unquenchable trait he found between Mandel, Welch, Scully, and other successful businesspeople. 

This chat pulls in lessons from outside the route-based service industry. From family business to ranking employees to implementing a factbook system, there is a lot to learn from this accomplished author, editor, and entrepreneur. 

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

Before you can judge Patrick for his inability to explain Profit First, it's a better idea to ask the author. Mike Michalowicz gets his formal introduction to the pest control industry in this extended interview. Hear how Mike leverages human nature to establish predictable profit. Sales - Expenses = Profit. True, but Mike creates a cash management tool by flipping the traditional GAAP formula.

Pre-Profit First, Mike struck it rich in his early 30's. As a new angel investor with a nice ride, Mike hit rock bottom in more ways than one. With raw emotions, he recalls the events that inspired his best seller. Writing became therapeutic as he began his 'journey to eradicate entrepreneurial poverty'.  Revisiting his experience with depression, Mike recommends mental therapy. He even gives a poor man's version to help recover. 

Don't sit-back while Mike preaches on plowback pain and pleasure. Is there a better segue than hearing Mike advocating on profitability before selling? Paul counters by asking about ROI. What if your own business is the best vehicle to put capital to highest and best use? Hear how Profit First-adopted companies compare to the control. 

Windup the clock. Paul pulls another Michalowicz book, Clockwork, off the shelf for the session's 1st OT.  Swooping in and saving the day as a superhero manager leaves a wake of damage. What can an owner taking a four-week vacation do for the business? Do you find yourself carrying the burden to provide jobs as an entrepreneur? By working in the business, are you taking jobs from your employees?

The prolific author is releasing another book this year, Get Different. He gives an example of unique marketing as opposed to getting lost in the sea of industry best practices. Does Dad approve?

Paul inquires about Mike's habits to produce these books. Mike goes onto share income generated from writing and distribution breakdown. Mike gives input on mainstream publishers vs self-publishing vs hybrid options. Is that Dad whispering in your ear, or Mike narrating another book for Audible?

Dylan joins Paul and Patrick to recap the dynamic interview. The lines get blurred between private life and business life. Paul retells stories of those that have cashed out but hold onto regrets. Dylan opens up about his similar struggle with depression. He shares his success habits and the personal growth he's found through journaling. Dylan explores the subconscious mind, and how he utilized consistent habits as opposed to willpower. 

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

Fred Wingate, owner of Noosa Pest Management, joins Nick Bartolo and Patrick Baldwin to share his inspiring journey from professional water skier to thriving entrepreneur in the pest control industry. His story is rooted in discipline and resilience, values that have guided his approach to both sports and business. Fred emphasizes the importance of a people-first philosophy, demonstrating how strong relationships with customers and employees alike are the cornerstone of lasting success. By fostering trust, valuing contributions, and encouraging collaboration, he has cultivated a company culture that drives growth and loyalty. How can businesses effectively balance meaningful relationship-building with the demands of operational efficiency to achieve sustained success?  

Noosa Pest Management’s growth strategy under Fred’s leadership prioritizes refinement over rapid expansion. Over the past year, Fred made strategic decisions to raise prices for certain services and eliminate less profitable offerings, resulting in a significant boost to net profits despite modest overall growth. His disciplined focus on quality over quantity underscores the impact of thoughtful decision-making in driving sustainable success. Looking ahead, Fred plans to launch an inside sales program to broaden outreach while maintaining exceptional service standards. What role does strategic risk-taking play in achieving sustainable growth while preserving a company’s core values?  

Fred’s vision extends beyond business operations, with a deep commitment to community impact. Fred and Ellen Wingate founded the Logan Jett Research Foundation, to help improve the lives of everyone touched by epilepsy, fund research for treatment options while working toward a cure, and provide a network of resources and support. As Noosa looks to the future, Fred remains focused on innovation and customer service, ensuring the company continues to grow with integrity and care. How can organizations weave social responsibility into their business strategies while staying true to their core objectives?

Learn more about the Logan Jett Research Foundation here: https://www.loganjresearch.org/

Skye LaJaunie, COO of LaJaunie's Pest Control, joins Paul and Patrick in The Boardroom to dive into the crucial role of company culture in driving business success. There is a huge need for a strong culture built on genuine relationships between leaders and team members. But what does it take to truly understand your team's motivations and aspirations? And how can leaders foster an environment where everyone feels valued and connected?

Skye sheds light on the importance of adapting business strategies to align with employee values, especially considering the unique characteristics of the younger generation in the workforce. When it comes to flexibility and customization, urging leaders to meet younger individuals where they are can be key in driving their success. But what does this level of customization look like in practice? And how can businesses navigate the changing dynamics of the modern workplace while staying true to their core values?

Skye underscores the value of learning from others, whether through mentorship or studying successful businesses. The power of collaboration and openness to new ideas can do wonders in driving growth and development. But how can leaders cultivate a culture of continuous learning within their organizations? What steps can you take to ensure you're always evolving and adapting to stay ahead in such a fast-paced industry?

Audio Mixing and Editing by www.verbell.ltd

It was beginning to look a lot like Christmas for Tim, at least until the news broke of Rentokil making a move to acquire Terminix. Join in as William Blair’s Group Head of Global Services Equity Research Analyst Tim Mulrooney returns to The Boardroom. Speculation abounds in this $7.5 billion deal.

In this deal that stretches Across the Pond, what needs to get carved-out and why? There is value to unlock in this deal, and it sounds like the accretion estimates are conservative. There are hidden synergies, including the Terminix turnaround surrounding termite claims and employee retention. Rentokil can knock out one of their competitors at the M&A table while picking up a network of 360 branches.

While over in Memphis, it’s hard to turn down a 50% upside. With the recent antitrust precedence, it sounds like Terminix has their work cut out for them to get to their grand finale at the closing table. Terminix has to look at how they’re going to carve out their national account business to pass muster with the DOJ and the SEC. There is a $245 million threshold, but cutting out that revenue is easier said than done. Place your bets on the buyer for “Copesan 2.0”. 

There is too much to list here, but you won’t be disappointed as The Boardroom chats about deal risk spread, Terminix franchisees, auction theory, price discovery, and William Blair ratings. Connect with Tim by email at tmulrooney@williamblair.com. You’ve read this far so you too can put up with Patrick’s “low thinking”.

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

Paul and Patrick respond to two PCT Top 100 listener questions with a previously glossed-over term from Episode 3, proximate objectives. By the way, what are proximate objectives? Don’t worry, Patrick asks for you.

The strategic acquirers are doing some thing(s) right, depending on the company, the point-of-view, and apparently what today’s date is. Does it matter? We drop a few names such as Rentokil’s Andy Ransom and Certus CEO (and Episode 7 guest), Mike Givlin.

Topics include : Aligning shareholder goals and objectives for your business, preparing a business for an acquisition anticipates all potential exit outcomes, and benchmarking local pricing.

Have you considered selling off distant routes to increase route density and in turn your gross margin? We discuss that in today's episode.

P.S. What does Chuck Norris have to do with pest control?

Welcome Scott Fortson of Terminix Service, Craig Heath of Aiken Pest, and Clemson’s not-quite-retired Urban Entomology Chair, Eric Benson PhD. The Clemson Urban Entomology Program needs to raise $5M to keep the urban entomology department at Clemson. No money = no endowment = no department.

What is urban entomology? Why does this endowment matter to the industry outside of South Carolina? Who better to ask than Rentokil Terminix’s Director of Technical Services Cassie Krejci, PhD? Cassie steps back in but this time as a co-host to field these questions as she shares her personal experience raising endowment funds while at Texas A&M University.

We’re all in this together…. To donate, go to scueca.org

Audio Mixing and Editing by www.verbell.ltd

You first heard about Chicago-based Pointe Pest in Episode 15 with Tim Mulrooney. Tim gave Pointe props on his annual-recurring research quest. Now 75 episodes ago, was selling even a consideration for Jared Borg and his partner, Kyle Woodbury?

Rewind 16 years (and $20M of annual revenue). How did Pointe get its start? Hear how Jared, Kyle, and Aaron Allred knew sales from their shared days at Eclipse, but Jared admits they didn’t know how to run a business. Somewhere along the way, they found themselves operating a DC-based Green Pest as well. Jared shares how his business evolved, including buying-out mentor and now billionaire Aaron Allred along the way.

An in-house tech developer, SQL, BI… is this a tech company that happens to do pest control? Jared saw that business was going flat so it was time to go cutting edge. That doesn’t mean he needed to reinvent the wheel. In fact, his 5-Star Service protocol was “stolen”. You’ll hear about what works and what doesn’t work when it comes to displaying data for all employees to see. Jared is quick to share his experience with how much data is too much and what shouldn’t be gamified. In fact, Jared doesn’t bat an eye before rattling off his top 3 or 4 KPIs.

Surviving this recent sell-side process with a 90-day fiancé theme, Jared shares how his experience differed from a more common 100% buy-out with a strategic buyer. In his new role at PestCo, a portfolio company of Thompson Street Capital Partners, strategy is the real buzz in this Boardroom chat. Paul and Jared dig into trusting others’ input, growth strategy, and replacing yourself in this real-world session.

Take Jared’s advice on making hard decisions and getting out of the way. It’s his life motto though that’s really going to resonate with you.

Watch it now on YouTube

Filmed, Edited, and Mixed by Dylan Seals of www.Verbell.Ltd

Additional Videography by Gabriel Gonzalez.

Additional Editing by Garrett Ware.

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To sign up for Bubble Trouble, our May 4th Live Event, send an email to... events@potomaccompany.com

Potomac Pest Control Group: https://www.potomacpestcontrol.com/

How did Arrow Exterminators grow into the $300 million family business it is today? Step into The Boardroom as Emily Thomas Kendrick takes us back to Arrow’s humble beginnings. What sounds like an episode of Breaking Bad, was just Emily’s PawPaw cooking up business greatness. Step back to hear Arrow’s family heritage, including Joe “Chief” Thomas taking the reins in the ‘70s and Emily’s rise to Chief Executive Officer.

Hear how he now-Arrow President Tim Pollard found his way onto the Arrow team. The two have a long-standing history as “Sugar Booger” recalls their first meeting. The two strike a great balance, and Emily concedes to Tim’s operational prowess. 

“Chief” gets credit for growth by division business model. Hear the irony of trying to stay small as you grow. With 2,736 teammates spread over 144 service centers in 11 states, its family culture on a massive scale that has led to Arrow’s success. It’s clear that hard work and results get rewarded at Arrow. In fact, they morphed their longstanding generic vision into spotlighting rockstars. What can be overlooked in such a large organization; the executive team emphasizes how decision making impacts the entire team. Family culture shines through as Emily and Tim describe former COO and President-to-be late Jeff Singley as a brother, son, and best friend.

The conversation turns to M&A and integration. How does Arrow decide on geographic expansion? Paul asks about integrating new employees into the deliberate family culture. Sitting off-stage, Kevin Burns gets credit for setting the stage for smooth integration weeks before Emily and Tim arrive on the scene. It sounds like deliberate transparency takes center stage describing opportunities for new teammates. It's been rumored that Emily gives out her cell number while onboarding new teammates. Is it true? If so, does she regret it?

How does Emily respond to representing women in pest control? It begs to discuss diversity in a male-dominated industry. Do Arrow’s teammates represent the cities they serve? Speaking of local, Emily and Tim share their new plan to give back to local charities.

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

There was little warning before WorkWave CEO David Giannetto walked into The Boardroom. Patrick's past PestPac experience sets the tone for this real conversation. Since all the skeletons are coming out, why not spin an extra 'nickel and dime' into the chat? David stepped into the CEO role two years ago. Support tickets counts ran high, and the tech became more indebted by the day. The customers were not the only ones frustrated by slow resolve. 

There must be reasons to sneak a vendor into The Boardroom. David announces PestPac's partnership with Target Specialty Products. This alliance can put even more money into operators' pockets. Another announcement he shares is WorkWave's promotion from IFS to parent-fund, EQT. 

David admits PestPac's intermittent communication. When rolling out $1.5 billion WorkWave Payments, he managed the bloody murder calls. After accepting the change, the native payment platform padded dollars into most of the end users' bottom lines. Is there enough in savings and increased productivity for PestPac to pay for itself?

Migrating from customization to toolsets, PestPac commits to modernizing. It's interesting to hear PestPac's move from customization to configuration. Listen for the Executive Steering Committee's role on roll-outs. This Boardroom conversation doesn't end there. From high switching cost handcuffs to competition in software to and scrutiny over shared interests, this chat packs in a lot.

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

You expect your managers to make well-informed decisions to benefit your company, but do they have a good grasp of financial concepts? It's important to question whether they truly understand the impact of their choices on your company's finances. Have you assigned specific responsibilities for parts of your Profit and Loss (P&L) statement, and do you assess their performance based on these financial figures?

Team meetings and one-on-one sessions serve as essential tools for keeping everyone aligned with the company's objectives and maintaining effective communication. But what makes these meetings so vital, and how do they contribute to the overall success of a business?

Establishing appropriate incentive structures and clear performance metrics can guide managers to achieve both short-term and long-term company goals. Step on in to hear about preparing managers for new opportunities and thinking about the advantages that outside talent can bring to a growing business. 

Audio Mixing and Editing by www.verbell.ltd

When he’s not making maple syrup snow candy, sipping barely-drinkable coffee at Tim Horton’s, or waiting in a long line at Health Canada for his flu shot, Mike Givlin, CEO of Certus, is building the next US national pest control firm. In this episode, Paul Giannamore and Patrick Baldwin find out what it’s really like to raise private equity funding to build a business. In this interview, Mike holds nothing back, discussing his career trajectory and how he and his team are striving to put people first as they execute a buy-and-build strategy in the pest control industry.

At PestWorld, both Uncle Paul and Fat Pat had firsthand experiences that reinforced the notion of a younger and more sophisticated pest control industry. With Rentokil facing expectations of slower growth during the integration process, it's clear that the industry is in a transitional phase. Rollins and Rentokil both shared their quarterly earnings, but the crucial question is how investors reacted to their financial reports. This reaction could have significant implications for not only the North American market but also the global market.

The industry initially surged with high customer demand during the pandemic, driven by essential services and lockdowns. However, the looming question is what lies ahead for the demand in pest control services. Even if companies manage to maintain top-line growth, they must address the pressing challenges of rising labor, fuel, and material costs. How will businesses adapt to these financial challenges while continuing to meet the demands of an evolving market?

Audio Mixing and Editing by www.verbell.ltd

Jason Walton, U.S. Senate Candidate in Utah and co-founder and CEO of Moxie Pest Control, joins Patrick Baldwin and Nick Bartolo for an enlightening episode of The Boardroom Buzz. Jason begins by discussing how mentors influenced his success such as Brent Bingham, Jimmy Hale, and the Rollins family. He also stresses that principled living and keeping commitments are key to personal and professional success. Through these experiences, Jason learned that success is about more than financial gain. What personal principles or commitments have guided you to your own definition of success?

Walton highlights the importance of truly appreciating the success that comes from hard work. To know the value of success, it must be hard-earned. Reflecting on an encounter with a young Lance Armstrong, Jason comes to know the impact and importance of setting high aspirations and working diligently towards them. His steadfast perseverance and dedication thereby paved the path to substantial achievements in his professional political career. How can reflecting on our encounters with peers and role models inspire us to set higher aspirations in our own pursuits?

Audio mixing and editing by www.verbell.ltd.

Do you pay your salespeople in perpetuity? Peel back the layers to expose the hidden dangers of perpetual payouts. Irregardless of what an acquirer wants, it’s time to take another look at your sales comp plan.

The partnering-with-pest-control question continues. In this case, The Boardroom takes another stab at the home inspection question from Episode 131. Do the same rules regarding perpetuity pay for salespeople apply to paying joint venture partners?

And should it (and you) stay or should it go? When it comes to joint venture partners and also founders, what challenges and opportunities exist when it comes to transitioning after an exit? And how does it differ between strategics and private equity?

Audio Mixing and Editing by www.verbell.ltd

Brandon Hier recalls his experience responding to the responsibilities he inherited when his dad passed away and then ultimately selling the family business five years later.

As a young teen, Brandon donned a respirator as he followed in his father's footsteps. His life took a turn as he shelved his college education to return home to run the business. Brandon was thrust into an impossible work-life balance as he struggled to build the family business in his father's absence.

Not only did Brandon take the leadership position at the family pest control company, but to further the matter, he found himself responsible for his mother’s financial future and retirement.

Join Paul and Patrick, as Brandon looks back on his time running the family business, selling it and ultimately exceeding expectations with his new life at Rentokil.

Paul and Patrick also chat about ServiceMaster selling their Brands business to do pure play pest.

Paul Giannamore is back in The Boardroom this week joining Patrick Baldwin to cover the surprisingly bustling pest control M&A market. You’d expect transactions to slow down due to summer vacations, but it’s actually quite the opposite. Paul shared that Potomac has “closed more transactions than we have in a two-month period, except in Q4 of 2020." Private equity firms are at the forefront, driving many of the recent transactions. Unlike strategic buyers, these firms often operate under the radar, leading to many deals happening without public fanfare. With big names like Rentokil, Rollins, and Anticimex staying relatively quiet, is this the new norm for the pest control industry?

Rentokil is undergoing notable transitions, with John Myers in the process of retiring and speculations of the company potentially going private. The massive Rentokil/Terminix deal was a significant milestone, but with pressure from institutional investors and the potential impact of the upcoming election on the market, the future of Rentokil is still undecided. The pest control industry is evolving, with a greater focus on service and customer experience over purely financial considerations. Across the service industry, popular software systems like ServiceTitan for HVAC services and ServiceTrade for fire and life safety services are becoming essential tools. How will these internal changes and technological advancements shape the future of the industry?

Building relationships and leveraging industry expertise emerged as significant themes in this episode. Paul Giannamore emphasized the importance of networks like the Young Presidents' Organization (YPO), which provide invaluable insights and learning opportunities. Paul and Patrick highlight how industry leaders are increasingly turning to consulting and mentorship, with notable examples like Tommy Mello investing heavily in expert advice to drive business success. Will this trend toward greater reliance on external expertise and mentorship continue to shape the industry's future strategies and growth?

Audio mixing and editing by www.verbell.ltd.

Doug Stevenson and his brothers grew Modern Pest Services to $18 million before selling to Anticimex. It would be hard to find a process at Modern in which Doug did not include in a financial system. 

Doug found himself entrenched in cost analysis study after study. It was his tenacity that helped 5x Modern's net income in one year. Adjustable initial service charges and subscription billing helped Modern weather New England seasons. 

With a name like Modern, it's hard to avoid innovation. In the early 2000's, it was Doug who set the bar with PestPac routing & integrations. Doug recounts working with Griffin Pest's Jeff Spencer & Pam Blauvelt integrating VoiceShot with PestPac.

Although driven by spreadsheets and returns, Doug opens up about people, management, and corporate elbows. As structured as Doug is, he says that there is one trait that determines success in a business partnership. What is it?

There are several new buzzwords (-phrases) coming out of this episode :

• Elegant (complex) solutions to complex problems
• Financial predictability to strategic decision making
• ROI makes the world go-round
• Beware of shiny things
• Always more risk in a non-diversified portfolio
• Balance emotions with data

From WIPFLI Partner to Boardroom Buzz guest, Cory Vargo steps into this episode as a guest co-host. It was Doug Stevenson who gets 100% credit for introducing Cory to the pest control industry. Apparently, Doug set a high bar. Cory discusses that high bar as well as Doug's cash after tax black and white decisions.

Cory sticks around to shed light on the deferred revenue black box, cash vs accrual accounting methods, and shareholder partnership issues. He adds his opinion on scaling accounting capabilities with a growing business. 

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

You can sprinkle pixie dust and hold your breath, or you can build a system to deliver a world-class experience for your customers. Stop waiting to exhale and step into The Boardroom with our guest Vance Morris. Vance shares his best practices for service businesses from his time at Disney operations. He’s going to clue you in on ways to set yourself apart from your competition. Hear how ownership mentality and employee engagement differ from Vance’s time while working with The Mouse.

You’ve thought about direct mail to grow your top line but have you tested it? Feel free to test it out at your expense, or learn from others’ experience in this Boardroom interview.

Lights. Camera. Action. The service industry puts all employees on stage. One bad act can shine a bad light on your business. It’s time to create a script for your technicians to follow. Are you struggling with scaling up-sells? It’s time to put the law of reciprocity to work.

From implementing a simplified mission to establishing a What-How-Why for each of your actors, this interview is full of tangible takeaways.

Disnify your business. Grab a copy of Vance’s book at deliverservicenow.com

Roll the credits. Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

You could say that Bryan Benak worked his way up in the trades. Recruited by Albert Cantu himself into the glory days of Terminix, Bryan went from managing a $1 million branch to present-day where he’s the CEO of $250 million Southern Home Services. 

Making stops at ServiceMasters’ Merry Maids and American Residential Services, and then finding a special situations detour along the way, Bryan has experience in both realms of publicly traded and private equity. All eyes are on the local manager in this double-distributed service model chat. 

From interest rates affecting M&A to understanding people, this interview doesn’t lack substance.

Audio Mixing and Editing by www.verbell.ltd

Peter Schiff argued for gold while denying all things Bitcoin in Episode 56. The Buzz makes its way back to the same table but this time for the flip side of the coin with world-renowned cryptocurrency expert Teeka Tiwari. 

Teeka begins by admitting his skeptical start before diving into crypto. With his Wall Street roots, he saw this “magic internet money in 2011” as a flash in the pan. Before diving into Bitcoin, Ethereum, and the myriad of alt coins, Teeka breaks down the blockchain basics. He recalls his Road to Damascus experience when he knew Bitcoin was here to stay.

Bitcoin as reserve asset and a speculative asset - is it possible to check both boxes? Hear how Bitcoin compares to gold as Teeka shares his opinion on going back to the gold standard.

Watch this San Juan Session in 4K on YouTube.

Filmed, Edited, and Mixed by Dylan Seals of www.Verbell.Ltd

Additional Videography by Gabriel Gonzalez.

Marcus Sheridan, keynote speaker on sales, marketing, and building trust, and author of They Ask You Answer, joins Paul and Patrick in the boardroom in an episode on becoming an industry expert through a customer-centric approach. He emphasizes the need to stand out, be more human, and engage better with customers and addresses concerns about costs. Can businesses truly become the voice of trust by discussing what others in their space might shy away from?

Sheridan advocates for the strategic use of digital platforms, suggesting the creation of a 'Learning Center' on websites. This not only positions a company as an industry expert but also aids customers in making informed decisions. Can businesses attract more trust and traffic by openly discussing topics that their competitors avoid?

What is the significance of personalization and human interaction in a digital-first business environment? Marcus Sheridan shares his approach of asking unique questions in sales meetings to build connections and highlights the potential of content marketing and inbound sales for entrepreneurial organizations. Can addressing customer questions, leveraging digital platforms, and being more human can generate increased traffic, leads, and sales? Can businesses truly thrive by adopting a strategic approach to content marketing, inbound sales, and customer engagement?

Audio Mixing and Editing by www.verbell.ltd

The time is now, if you haven't already subscribed to POTOMAC TV. Live from the exhibitor floor at PestWorld in Hawaii, Dylan Seals created a first of its kind studio, while Paul G and guests took the stage.

Check out this guest list:

Big Time Pest Control President, Mike Bullert

Greenix President, Andrew Barrows

WorkWave CEO, David F. Giannetto

Financial Advisor, Nick Bartolo

Rentokil Terminix Head of Science & Innovation, Cassie Krejci PhD

Rollins CEO, Jerry Gahlhoff

Lizard Marketing CEO, Mat Rogers

PEST2KILL Owner, Phil Taylor

ProForce Pest Control Owner, Spenser Morgan

Stay tuned because there's more to come...

Paul, Patrick, Nick Bartolo, and Chase Hazelwood discuss the pivotal role that trust plays within teams. While trust is a cornerstone of effective teamwork, we can't forget the importance of accountability. Building trust is a gradual process built by recognizing and acknowledging when your team excels. How can your team strike a balance between fostering trust and upholding accountability to ensure consistent and high-quality performance?

Staff turnover can be beneficial, contrary to popular belief. It may even be healthy to bring on new talent and ideas, pushing both employees and employers toward excellence. What strategies can you implement to leverage staff turnover as a driving force for growth and innovation within your organization?

Continuous process improvement serves an important role in driving businesses toward success. Like Chase, you may even use AI tools for developing Standard Operating Procedures (SOPs) and training materials to boost your progress. How can your business harness the power of focused process improvement and the integration of AI tools to achieve growth at a competitive rate?

Audio Mixing and Editing by www.verbell.ltd.

The pest control industry has seen an influx of private equity firms, leading to increased competition and often outbidding strategics. How might this heightened competition impact the market dynamics and strategies of the few remaining strategics in the industry? How might this change in dynamics affect the overall industry and the opportunities available to sellers? And on an individual level, how does a deal with private equity impact a seller’s considerations and the process to exit?

Also, a listener writes-in about protecting his customer list. What protections should be in place while with a potential buyer, and ultimately what happens if they break that trust?

Audio Mixing and Editing by www.verbell.ltd

The marketing game is rigged. What would happen if advertising utilized a President-producing marketing machine? Phillip Stutts introduces his Undefeated Marketing System in this game-changing interview.

There isn't enough room for our guest's resumé. Phillip has worked on eight presidential campaigns. Here are a few previous clients: Pres. George W. Bush, Sen. Bob Dole, Gov. Bobby Jindal, Sen. John Thune, and Gov. Ron DeSantis. And it turns out that Phillip and Paul share a mutual client.

In politics, understanding the voter comes before spending money. The same idea is true for advertising. Phillip's screen-agnostic full-service marketing firm follows a five step process gleaned from the political arena. Skip a step. Skip success. 

The Boardroom has been home to a few digital marketing discussions. Jeff Phillips, Tracy Judnich, and Darin Huffaker to name a few. The odds were stacked against (now) Gov. DeSantis. Phillip innovated. Phillip led the largest geo-farming (yes, *geo-farming*) campaign in the history of advertising, and in doing so led voters across party lines.

Most business owners talk about their business and how good it is. Guess what. Your customers don't give two shakes. If you knew your customers' most important values, wouldn't that be useful? Your potential customer will see 10,000 ads today. It turns out that competition extends beyond other pest control companies. There is a secret weapon in the pest control industry. By using customer data, you can get an advantage over your competition every time. 

Hear about a pest control company that lost money by advertising discounts. Perception is reality. Cheap and safety do not go hand in hand. Stutts' Win BIG Media team increased the client's top and bottom line with a 'smarter' campaign.

Don't let looks fool you. Facebook, Coca-Cola, and Google don't sell soft drinks or search engines. Then what do they sell? Owning data is not under-emphasized in this interview. Phillip found himself canceled. Hear how he seized the opportunity. 

Connect with Phillip and his team: phillipstutts.com/insights

Dogs >> Cats ;)

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

This week in The Boardroom, Paul, Patrick, and Chase explore the benefits of switching from hourly pay to production commission for technicians. It's not just an incentive but a reward for effort and results, fostering a sense of ownership among employees. How could a commission-based pay system boost your company’s productivity and engagement?

Chase shares his innovative hiring practices, suggesting businesses look outside their industry for high-quality, friendly employees. He's even found success in hiring staff from a pet daycare, who brought strong customer service skills to the team. What new talent pools could your business explore for exceptional hires?

The co-hosts highlight the need to maintain consistent commission rates to protect company culture and profitability. Offering additional benefits, such as better equipment and professional development opportunities, can help retain top talent. How can your company effectively balance fair compensation with extra benefits to attract and keep the best employees?

Audio Mixing and Editing by www.verbell.ltd.

This one’s for the partners out there. Before pressing play, ask yourself if there’s a common theme behind partnership problems. How do you prevent blowing up friendships over the course of building a business together?

Know your role. Tune in to hear about the importance of distinguishing between shareholder vs employee roles. Partners, how did you decide compensation, equity, and strategy decisions? How do you stay on the same page? What about a tiebreaker?

Maybe you don’t already have a shareholder agreement in place. It’s not too late. If you do, does it include a provision for calculating the value of your business?

Exits happen. Do you have a plan for both voluntary and involuntary exits? Have you worked through any issues that could arise? If your shareholder agreement has a preamble, email it to The Buzz (thebuzz@potomaccompany.com).

Are you ready if your plane falls?

Audio Mixing and Editing by www.verbell.ltd

Patrick survives the un-Texas weather to only later hear Paul tell him what he’s (not) worth. Between upcoming tax rate hikes and inflated valuations, wouldn’t you know that Paul is keeping busy (or at least The Angry Mex is)?

In other current events, Patrick *felt* special for a hot minute. You'll hear how about "a top pest control provider in the southeast that is actively seeking to expand its current service area. Our client is in the top 10 nationally in terms of annual sales and is privately held.  Knowing that yours is one of the best and fastest growing in the area...". Paul talks Patrick down from his Rising Star pedestal.

Patrick recalls a one-time project in which he had to research recurring vs reoccurring. Leave it to Patrick to chase that into a food frequency free-for-all. If Paul can make it past the Compound, he can show how his one (and maybe never) trip to Waco explains the reoccurring difference. Paul goes on to distinguish reoccurring and one-times. Patrick questions Paul about saying no to Aunt Suzy. Paul questions Patrick’s question. It may be a Buzz word, but there are 'opportunity costs'.

Service Agreements. Yes or No? Paper or Digital? Early cancellation fees? Termite work? Paul recalls days of yesteryear when due diligence teams sampled service agreements. What happens when a service agreement doesn’t line up with what is being delivered? You may not find yourself in a class action lawsuit but it may happen to the acquirer.

The disclaimer Paul gives is one for the ages. He repeats what he has heard from attorneys. Do NOT take what Paul says as investment advice or legal advice, or prepare to stand before the judge and jury. 

Episode 42 guest, Jeff Bain, must be an instant classic, or maybe it's an easy reference. Be like Jeff; define what makes your business different.

Make sure to RSVP for Paul's upcoming customer retention presentation (email theBuzz@potomaccompany.com). Donation to The Human Fund not required.

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

That’s a wrap on the Atlanta Sessions, but Paul is already heading back to Atlanta for a celebratory dinner. Congrats to Anticimex and Pestban!

Patrick knows the emotions involved in selling a business. Imagine the feeling when your out-of-the-know acquirer calls the office line.

There is more chatter about private equity. Is this a tell-tale sign of the bubble? What scenarios make sense for private equity to win deals? Can private equity pay as much as acquirers? Paul provides answers on why and why now.

You can’t miss Paul citing his investment banking business mentor’s 2003 speech. Do you find yourself nodding to these signs of the times?

Paul sheds light on anchoring in negotiation. Would a trained buyer ask “what do you want for the business”? Class is back in session as The Boardroom discussion turns to negotiation and NDAs. As a potential seller, is there a reason to sign an NDA if they want to see my numbers? Process control, emotions, the Dunning-Kruger effect, and more get unpacked in this episode.

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

Andrea Brubaker takes us back to earlier days at Triple S. Triple S, you say? Yes, Episode 5 Tony Sfreddo’s Triple S. From shame to shamelessly fabulous, Andrea breaks down prospecting, hiring, compensation and more in the sales-centric chat.

Who knew you could make hot water cool again? Check out what she’s up to present day before hitting rewind on her sales career.

Don’t miss Paul’s current take on the reoccurring residential vs commercial debate and Patrick’s Texas Pest Expo takeaways.

Audio Mixing and Editing by www.verbell.ltd

Paul is getting on the road to double-keynote this year's AZPPO Great Western Conference. But first, Paul takes on a FRAXN client's question, beginning with the vital need to keep partnership agreements and valuations current. Surely, you’ve considered the potential chaos if your business partner suddenly left the picture. Updating your operating agreement can smooth out what would make for a rough ride. When was the last time you revisited your partnership paperwork?

When it comes to valuing your business, growth rates and margins play a pivotal role. But are you factoring them into your valuation strategy? Paul and Patrick cover the importance of a nuanced approach instead of relying solely on a one-size-fits-all method. Even though you may not be thinking about selling in the near future, what variables come to mind as you think about the value of your business?

And what's the scoop on offshore trusts? Despite their reputation, they can be a valid strategy for protecting your assets from legal and financial risks. What are some common misunderstandings of offshore trusts?

Audio Mixing and Editing by www.verbell.ltd

Mike Houston, the seasoned owner of Sureguard Termite and Pest Services, joins Nick Bartolo and Patrick Baldwin in the Boardroom to share his extensive experience in the pest control industry. Mike's humble beginnings in the industry accelerated into a successful business he exited. Mike took a break from pest control but has built again. He prioritizes maintaining strong customer service and building relationships as foundational to his business strategies, including acquisitions. How might you approach acquisitions on the buy side vs. the sell side?

In the interview, Mike Houston detailed his approach to growing his business through multiple strategies. He stressed the importance of not just analyzing acquisitions by looking at the financials but also ensuring a good fit with the existing business model. Mike also highlighted the significance of clear communication and mutual benefits in making acquisitions successful. What strategies does Mike consider essential when evaluating a potential business for acquisition?

Audio mixing and editing by www.verbell.ltd.

Definitely qualified (CFA, CPA, MBA) and without the typical cookie cutter approach, Nick Bartolo of Essential Partners, steps into The Boardroom to chat through the world of wealth management. More than just diversifying assets and ensuring performance, Nick introduces a unique framework to grow and protect one's wealth. With ever-changing economic conditions, what thoughts (and emotions) come to mind as you think about your financial future?

Speaking of emotions, wealth advisors are not only investment guides but act as buffers to provide emotional distance and manage risk. With most advisors acting more like salespeople than genuine investment professionals, how can you make the right choice for your financial journey?

Tune in to hear about “The Money Illusion”, the realities of the 60/40 portfolio strategy (60% stocks, 40% bonds), and the US economy’s historic lack of soft landings.

Audio Mixing and Editing by www.verbell.ltd

Jeff Bain knows how to learn from others. Taking notes from his insurance colleagues, Jeff knew he had to build an annuity-based pest control business. His top priority was to protect the residential-heavy business from wild seasonality as he took over the reins at Bain Pest Control. During Jeff’s collegiate days, he found himself getting paid to learn from American Pest’s former leader, Jay Nixon. Similar to previous Buzz guest Jim McHale, Jeff even shares a nod to the Sameth family and their Residex reps’ willingness to help shape the recurring business model. 

Relationships, referrals, and pricing chatter abound during this time in The Boardroom. When it comes to building a client base, Jeff takes over as teacher during this sit-down session. Listen for how Bain Pest Control’s retention rate and marketing budget stray from the norm. Jeff even makes time to answer a listener’s question about selling in the Northern climate.

Over 100 years after the Ukrainian immigrant entered the USA via Ellis Island, Jeff Bain found himself realizing it was time to sell the family business. When it was time to select an advisor to sell his business, Jeff decided on the advisor that had his best interest in mind. His high trust relationships led him to having several employee discussions before selling the near-centenarian business. You’ll hear how Jeff had his employees’ opportunities in mind while deciding on Rentokil as the best acquirer for the business. There are too many emotions to list in this Boardroom sit-down. Speaking of emotions, Jeff goes on to share a story that shows the soft-side of Potomac’s chief negotiator. 

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

Seth Garber steps into The Boardroom while Paul is away. This time to tackle controlling a phone conversation. Sorry. Say what? From upset customers to prospects, does saying “I’m sorry” convey responsibility? Is Peacemaker Patrick alone here? 

Is the customer always right? Do your CSR’s go through 9-degrees of training? It sounds like it’s the perfect opportunity to role play with none other than Fat Pat’s Pest. 

Changing course here, what’s the interplay between pest control and the home inspection business? From equity to revenue share to profit share, is there a right answer?

And would it really be an episode with Seth Garber if he didn’t kill a sacred cow?

Audio Mixing and Editing by www.verbell.ltd

Paul Giannamore and Patrick Baldwin chat about how pest control transactions are structured differently.

What happens after the sale... after Paul's first pest control deal in 2003, what happened after the close?

Patrick and Paul also talk about "taking a lump sum in a duffle bag and the proper way to 'make it rain' when you're at an underground Romanian rave".

Set aside what you think about routing for two hours, and step into the Boardroom with Pam Blauvelt of PCT Top 100 Griffin Pest Solutions (now a Rentokil company... finally). What Doug Stevenson is to financial systems, Pam is to operational efficiencies. Find the path to the Holy Grail as you consider same-day scheduling changes.

Tune-in to hear how an acquisition accident left Pam and her business partner, Jeff Spencer, scrambling. Borne out of crisis, Griffin was forced to implement a four-day workweek. A necessity turned into demands echoed from Griffin guys and gals.

Murphy's Law #14 in pest control states that your technician's schedule puts him at a restaurant during the lunchtime rush. Not so with Pam's PestPac Pro Parameters.

Other than a four-day workweek, what other lessons did Pam learn while making acquisitions? What would Pam not outsource during due diligence?

Production versus hourly pay? Ask yourself how many technicians you'd be willing to lose if making the change is the best thing for your business.

If you've ever found yourself saying 'talk to me like an adult' to a technician, then you'll enjoy time spent in this Boardroom.

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

Sally sells seashells by the seashore, but Shelley wants to know about selling her pest control company and starting back up in a nearby area. Brands, logos, and restrictive covenants come to mind. What else will Patrick pull out of the mystery grab bag of listener-submitted questions?

While Shelley is curious about making an exit, Jesse wants to know about competition. Does The Boardroom Buzz duo have an opinion on competing against a large corporation or several mom & pops? 

Tune in for a quick Q&A session on digital marketing, inflation, and the current M&A markets. Paul reinforces that there is a lot more at risk this year with valuations than taxes. To hear more about the M&A market in your region, register for a free event at theboardroombuzz.com/supernova

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

Garland Vance has a PhD in leadership. Literally. Garland has helped industry-giant Rollins build and develop their leadership pipeline. Keynote speaker, entrepreneur, and author of Gettin’ (un)Busy, Garland can now add The Boardroom Buzz guest to his resumé 😉. Hear how Fat Pat met Garland at Arizona Pest Professional Organization’s (AzPPO) Great Western Conference. 

It goes without saying - leadership isn’t easy - but is there such a thing as a born leader? From clarity to consistency, Garland shares the traits that you need to lead. Garland breaks down strengths and weaknesses to expose both as potential liabilities. There are a few gut checks in this sit-down, including what causes organizational whiplash.

Quick word of advice…before you press play, go ahead and lookup the definition for intertemporally.

Audio Mixing and Editing by www.verbell.ltd

In this week's episode of The Boardroom, hosts Patrick Baldwin and Nick Bartolo are joined by Drew Fenn, President of Fenn Termite & Pest Control in Southern California with a focus on commercial and residential customers. They delve into the critical role of discipline and focus in growing a business. Drew emphasizes the necessity of deeply understanding your business and adhering to your core competencies without getting sidetracked by external influences. Maintaining a sharp focus on profitability and operational efficiency, while staying true to what you do best, sets the foundation for lasting success. How can companies preserve this level of discipline and focus while expanding to new regions? 

Drew shares his strategies for nurturing long-term customer relationships, particularly with commercial customers. By maintaining contract flexibility and consistently delivering high-quality service, Fenn Termite & Pest Control built strong trust and loyalty with their clients. Drew emphasizes the importance of clear operational procedures and well-trained staff to navigate uncertain economic periods while effectively and efficiently meeting diverse customer needs. Embracing these challenges transforms short-term engagements into lasting partnerships. What steps can businesses take to ensure their teams are equipped to maintain high service standards and adapt to changing customer needs?

Audio mixing and editing by www.verbell.ltd.

Looking to crack the code of success in the wildlife and pest control sectors? Fat Pat and Seth drop some wisdom on why simplicity is the name of the game for top-performing companies. By starting with a single service and gradually adding on more, these businesses maximize profitability and route density. Do you think your company could benefit from simplifying its offerings, or are you tempted to throw everything at the wall and see what sticks?

Let's talk recurring revenue. Seth spills the beans on how some savvy companies are ditching annual warranties in favor of monthly subscriptions. Even wildlife companies can implement subscription-based models. Staying laser-focused on building a business, rather than getting distracted by naysayers, is crucial to long-term success—it's all about keeping that cash flow steady and predictable. But here's the million-dollar question: Is your business ready to make the switch to a subscription-based model? What's keeping you from changing your billing structure?

When it comes to expanding your operations, Fat Pat and Seth shed light on their "rule of ten": Don't split your company into different departments until you've got a solid team of ten technicians. Efficiency is key when the business is guided by a clear understanding of where the company is heading but it begs the question: How close is your company to hitting that magic number, and what can you do if you're just under Seth and Patrick's rule of ten?

Audio Mixing and Editing by www.verbell.ltd 

Robert Pittman, owner of Tuxedo Mosquito Control, joins Nick Bartolo and Fat Pat aka Patrick Baldwin to discuss his journey in developing a specialized mosquito control business centered around family values and focus. Taking over from his father-in-law, who founded the company, Robert has upheld a culture that treats employees like family—a principle that’s integral to the company’s success in a seasonal industry. By prioritizing fair pay and taking a genuine interest in employees’ well-being, Robert has cultivated a loyal, motivated team. How can other leaders foster similar commitment and loyalty among their employees?

Tuxedo Mosquito’s strength lies in its unwavering commitment to a single focus: mosquito control. By specializing, rather than expanding into general pest control, Robert has built a trusted brand known for expertise in this niche area. He views this narrow focus as a competitive advantage, differentiating Tuxedo from broader pest control companies. Despite occasional encouragement to diversify services, Robert firmly believes in the power of specialization to set his business apart. Is this strategy the right approach for all niche businesses, or might it limit future growth?

To ensure the right people are in the right roles, Tuxedo Mosquito uses the Culture Index, a tool that helps them hire individuals whose skills and traits match the demands of the job. By defining ideal profiles for each position, Robert has minimized hiring mismatches and created a team that operates with minimal oversight. This hiring strategy has allowed Tuxedo to maintain a cohesive, efficient team that is aligned with the company’s values. How might similar tools benefit other businesses in finding and retaining talent that truly fits their unique culture?

We always think high growth is the golden ticket. Sure, rapid expansion can be sweet, but have you ever wondered if there's such a thing as too much growth? When should you hit the brakes and focus on other priorities, especially if selling your company is in the cards?

Let's talk about keeping those customers happy. Implementing a killer retention program can seriously beef up your bottom line. But here's the million-dollar question: Are you doing enough to keep your customers coming back for more? Have you ever really sat down and thought about how to keep them hooked?

In the wild world of door-to-door sales, your numbers may soar, but have you considered the risks? When you're scaling up, things can get pretty dicey. So, is the risk worth the reward, or should you look for a safer bet?

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The ink is still wet and the emotions are raw. Jason Byer opens up about his team and the guilty conscience he hid last year as he sold the family business. Jason led Suburban Exterminating up to and through their sale to Rentokil in late 2020. 

The service and billing decoupling discussion returns to The Buzz, but Suburban was unique. Listen for how Door Knockers rang-in a new billing method. If you can't beat them join them. Jason even considered putting summer sales to work in his business before the sale. 

Moving forward, Jason and his team are learning the Rentokil way. How is this longtime family business transitioning into corporate culture? Hear how as a sophisticated business, Suburban has integrated into the new environment. Jason recognizes his team and their ability to adapt. Good or bad, what is the Rentokil-effect on the front line employee? He shares his excitement about the upgraded resources and ability to grow.

Jason represents succession assumed in a family business. As a minority partner AND a son, what is his take on risk and reward?  Paul preaches from previous experience on this parental pest control paradigm. In contrast, Paul recalls another family situation with hyper communication.

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

Charlie Church, owner and president of Getem Services Termite and Pest Control, joins Patrick Baldwin and Nick Bartolo to share his journey of unexpectedly taking over his family's pest control business. Through this, he highlights his experience with perseverance, adaptability, and a self-starter mentality. Drawing from his background in wrestling, Charlie developed discipline and resilience—traits that have proven invaluable to the success of Getem Services. What steps can you take to improve your discipline to step up, learn, and evolve as a leader?

Charlie delves into the importance of early financial planning and investment, explaining how he began investing in real estate shortly after joining the family business. He emphasizes that diversifying assets—whether through real estate, stocks, or other means—builds long-term financial security. Early investments can lay the groundwork for future success in both business and personal wealth. How are you leveraging early financial strategies to build a foundation for lasting success and wealth growth?

Community engagement has always been central to Charlie’s values, and Getem Services exemplifies how a commitment to local causes can enhance both reputation and growth. When businesses invest in their communities, they foster stronger relationships, build brand loyalty, and amplify their societal impact. How can businesses strategically integrate community involvement into their core operations for sustainable success?

Audio mixing and editing by www.verbell.ltd.

In this episode, Paul and Patrick answer listeners’ questions and discuss topics that were raised in previous episodes with Tony Sfreddo, Mike Givlin and Jamie Clement.

Topics include: Understanding what drives acquirers to make acquisitions and how value is created by a business combination. Making the hard decision to say “no” to too many disparate service offerings. The advantages of decoupling service from billing. What do acquirers look for in acquisition targets and why you shouldn’t really care. Should Anticimex’s portfolio company Killingsworth really start offering food delivery and medical services? And finally, is Rollins, the parent company of Orkin, really for sale?

There are countless lessons that second generation-owner David Clark learned from his dad. His dad preaching and modeling “sticktoitiveness” won’t soon be forgotten. Hear how David and his dad balanced making decisions versus making plans.

Clark’s Termite & Pest Control grew from $250k in annual revenue to $20M before selling in 2021. Between builders and realtors, David scaled his way to one of the largest pest control companies in the country. David distills prioritizing people and processes to reach success. He even gets in the weeds on paperwork and mistakes that made along the way. From pretreats to lawn care, Clark’s evolved over the years. Their upward progression helped them not only survive, but grow through the housing crisis.

The conversation looks back on the third-generation business, and its climb to the top. David is quick to credit the Clark’s team for their success. He even shares a quick lesson on marketing messaging that you don’t want to miss.

Where else can you learn life lessons about repoing repos? Step back in for another San Juan Session to hear how David and his family business struggled on their way to the top.

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Filmed, Edited, and Mixed by Dylan Seals of www.Verbell.Ltd

Additional Videography by Gabriel Gonzalez.

Additional Editing by Garrett Ware.

To sign up for Bubble Trouble, our May 4th Virtual Event, send an email to... events@potomaccompany.com

Potomac Pest Control Group: https://www.potomacpestcontrol.com/

Today in the Boardroom, Nick Bartolo and Patrick Baldwin sat down with Phil Rinehart. Phil is a practicing attorney and principal at The Law Offices of Phillip Rinehart. Phil is uniquely suited to provide legal advice as he also has a 20+ career in pest control and is currently the owner and CEO of EcoGen. As an attorney, Phil specializes in litigation, consulting, management, entity formation, liability protection, and growth. Phil shares essential tips on safeguarding your business through the right contracts. He emphasizes the importance of well-structured employment contracts, including critical clauses like non-solicit, confidentiality, and liquidated damages. Phil also discusses the necessity of having solid operating and service agreements to ensure comprehensive protection for your business. Do your contracts include these crucial provisions?

 The team highlights the need to inform customers about their right to rescind a contract within three days to avoid significant financial risks. Failing to provide proper notice of this right can lead to serious consequences for a business. Are your terms and conditions updated with this clause?

 Phil recommends setting up separate business entities for different aspects of a business to ensure extra protection and flexibility. Creating individual LLCs for partners and securing proper insurance coverage can mitigate potential risks. How are you protecting your business operations with separate entities and insurance?

 Learn more about Phil and his work at www.philrinehart.com.

Audio Mixing and Editing by www.verbell.ltd.

Paul makes a trip to the Holy Land, but has he found the Holy Grail? Tel Aviv’s high-tech hub creates a new generation of mousetraps. Paul visits with Ronen Amichai and Ethan Vickery of PestOptix to see how future technology is now a reality. The pair of tech-forward thinkers go all-in on digital to change the industry.

Pest control is full of countless creatures, but the most reliable is the creature of habit. Has PestOptix created the disruptive monster that non-adopters fear? Imagine the day you’re not shelling out cash to check empty stations.

This one of a kind technology is ahead of what Anticimex and Rentokil deploy. Could this be your opportunity to stay ahead of the larger players? Ronen and Ethan created a camera-enabled, AI-driven system to keep you ahead of the competition. As you’ll hear, you can stay ahead of bad press with 24/7 monitoring. Ronen shares his customer interactions about transparency, thresholds, privacy, pricing, and service frequency.

As costs continue to go down, this technology also finds its home in the residential side of the business. Alexa, is there a rat in the house?

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

You first heard about SOLitude Lake Management back in Episode 70 with Jay Davis and Jason Pananos, but where (or who) gave SOLitude its start? Kevin Tucker steps in to share his backstory and breaks down the basics of lake management.

Surely it’s a recurring service, but is it year-round or seasonal, is it route-based, is there any competition out there? Speaking of competition, you’re going to love to hear Kevin’s two cents on competing on price. From sales and marketing to vendor relationships to managing referrals, Kevin unpacks a lot in this episode.

Seth avoided lake management years ago so his pest techs didn’t become champion fishermen, while Fat Pat suggests the Enterprise Rent-A-Car recruiting model for pest control. What do you think Paul thinks about four-year degrees?

Mommy, Mommy. Look at that man’s back.

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Right Time

Take a stroll down memory lane as Frank and Cindy Miller step into the San Juan Boardroom. It’s clear that opposites attract as you hear about their background going back to when they met in the ‘60s. The couple open up about the difficulties they faced together - over the decades as well as recent history. Stay tuned as Cindy opens up about how things have changed over the years for women in the industry.

Right Place

The two transplanted out of New York into Florida, and seized an opportunity in an industry new to them. Without giving too much away, they credit their success to the…

Right People

Frank and Cindy sold Impact Pest Elimination to Turner Pest, an Anticimex platform, in the fourth quarter of 2021. The recently retired duo give credit to Arab - where they got their start - and the people that they surrounded themselves with - Gary Cole, Tom Wisdo, and Donnie Karcher - and those that were born into the business and had to work their way up - Leanne Prewitt and Kristine Krauss. Their daughters don’t fit the SOB (sons of businessmen) mold that Paul frequently finds. There is a lot to learn as they talk about their four branches (and four corporations) and how they thrived on inner-company competition. Starting with Customer #1 many times over, Frank and Cindy share their secret to success in this memorable sit-down.

On today’s menu: PB&J on toast as Frank adds, “would you like a warm-up on your coffee? Hey! Keep your hands to yourself!”

Watch now on YouTube

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Filmed, Edited, and Mixed by Dylan Seals of www.Verbell.Ltd

Additional Videography by Gabriel Gonzalez.

Additional Editing by Garrett Ware.

To sign up for Bubble Trouble, our May 4th Live Event, please visit bubbletrouble2022.com

Potomac Pest Control Group: potomacpestcontrol.com

Paul Giannamore and Patrick Baldwin discuss where money will end up after the COVID-19 pandemic. How will essential service businesses look for investors in the long-run? Pest control is an essential business. Will investors shift their portfolios to 'de-risked' industries because of Covid-19?

How will the pandemic affect future pest control acquisitions? Will this shift valuations on residential vs commercial segments?

Will the DOW return to its pre-COVID-19 high?

"How do you best sabotage the wealth building exercise of growing a business?" sounds so gloom and doom. It could be re-stated "how do you increase the value of your business?" for the eternal optimists out there. It's not often that Patrick gets away with giving Paul homework.

In no particular order, The Boardroom duo makes it through a top seven list. Now it's time for you to do your homework. Email thebuzz@potomaccompany.com with your prioritized list (recurring revenue, pricing, incentive structure, service offerings, density, organizational chart, and understanding profitability). For extra credit, include the number of Episode 70 - Jay & Jason references. 

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

You don’t want to miss this round of listener-submitted questions, including Andy Sanefski’s question on past and future consolidation trends.

• Is there such a thing as too high revenue per technician?
• In 2021, everything must go, but what about now?
• When to increase pricing, and how much? And should I communicate the price increase?

Paul has a secret trip planned. Don’t get FOMO like Patrick. Subscribe to Potomac TV today.

Audio Mixing and Editing by www.verbell.ltd

This week, Patrick Baldwin, Nick Bartolo, and Chase Hazelwood explore the game-changing impact of AI on sales centers. They dive into how automating data collection and reporting can uncover a significant number of missed calls—those often ignored but crucial for sales performance. Chase shares how his team at Go-Forth Home Services used AI to identify these missed opportunities and develop effective strategies to tackle them. This reframes individual responsibilities as integral parts of the collective effort, driving a sense of shared purpose and responsibility. How can businesses integrate AI to improve operations while maintaining a corporate culture of personal accountability? 

Chase Hazelwood delves into his team's unwavering dedication to fostering positive customer service experiences. At Go-Forth Home Services, while they leverage AI to enhance their operations, they never lose sight of the human element. Their focus is on making sure customers feel genuinely heard and understood. To Chase, while efficiency and technical expertise are essential, the true differentiator is connecting with customers on a personal level. How can businesses strategically blend advanced technologies with a personal touch to deliver an unparalleled customer experience?

Audio mixing and editing by www.verbell.ltd.

This week in the Boardroom, Paul, Patrick, and Chase discuss building a high-performance business culture by expecting and monitoring mistakes. Transparency is key. When we expect each other to make mistakes and hold each other accountable, we're building a supportive environment. How can your organization see mistakes as growth opportunities?

Trust and accountability must be balanced. Trust doesn’t mean avoiding accountability but creating a safe space for improvement. Highlighting mutual respect and accountability, the co-hosts emphasize that no team member is above the team. How can leaders balance trust and accountability effectively?

Measuring performance is crucial for growth. It's important to track metrics like close rates to gauge business success. Chase's rigorous tracking system encourages constant feedback, while Paul notes that trust allows candid feedback. What performance metrics drive improvement in your organization?

Audio Mixing and Editing by www.verbell.ltd.

Jeremy Kreer grew up in a family pest control business. Jeremy opens up about Advanced Pest Management’s operations behind closed doors. All seems on-track for future generations until Jeremy’s parents go through a divorce. Dealt a bad hand, how did Jeremy buy out his Mom’s shares, and how did that affect the family dynamic?

To drive the wedge even further, how did Jeremy’s dad respect Jeremy as a business leader? Enter Nam, Jeremy’s brother, full-time in the business. Paul remembers Nam as a rockstar salesman, but as the business transitioned to Jeremy and Nam, how would it affect their relationship? To further complicate the 3rd generation ownership, what about relationships with their siblings?

Did the extracurricular dynamics call for extra TLC when it was time to sell? What about awkward explanations with potential suitors?

Flashback to previous conversations on the Buzz — On Episode 11, Paul spoke about shareholder objectives. The Kreer family dynamic reinforces the importance of aligned business partners. Jeff Annis and Dena Thomas discussed their open book management on Episode 22. Consider forced transparency as doubt creeps in. 

As another 3rd generation business owner, Go-Forth Pest Control CEO Chase Hazelwood, joined us to give his input on Jeremy’s story. It is interesting to hear how the Kreer family’s story may affect Chase’s business planning.

An audio rebroadcast from POTOMAC.TV.

Nick Bartolo turns the mic on Paul Giannamore to discuss his strategy for selling fire protection businesses. Paul reveals how a formal sell-side process, combined with competitive leverage, drives transaction multiples to new highs. 

Learn how you can maximize the value of your fire protection business in the growing M&A market and cut taxes on the transaction. 

Recorded at NFPA 2024 in Orlando, Florida.

In this episode:

• Importance of competitive auctions in fire protection
• Why sell-side representation matters
• Tips for preparing years ahead of sale
• Common challenges in M&A deals
• Success stories in raising multiples

Feeling stuck? You’re not alone. It’s all about facts over feelings in this high-speed, low-drag chat between Patrick, Paul, and Seth.

Look for fact patterns and listen for the biggest levers that can trigger vast changes in your organization. The barriers are there. The struggles are real. The real question is how hard are you willing to push through them?

Audio Mixing and Editing by www.verbell.ltd

High pricing for pest control got Svein Olav’s attention as COO of Swedish retail coffee chain, Espresso House. Little did he know that he’d follow the white rabbit into pest control ownership, and bring a company back from the brink of bankruptcy. 

After taking over as Nomor’s CEO, Svein Olav quickly made the rounds conducting interviews with both employees and customers. His employees didn’t know what they wanted, but Svein Olav knew what they needed.

Svein Olav resurrected a ‘given up’ culture. Take notes on his unique insights on female employees, language diversity, fitness, pay for performance, and celebrating success. The underdog, Nomor, grew to be the 4th largest pest control company in Europe and solid competitor with capabilities to service Sweden’s insurance demands.

Nomor’s turn around tale is one for the ages. 

Potomac advised Nomor on its sale to ServiceMaster in 2019. The transaction was nominated for Nordic M&A deal of the year.

Real estate and termite-less businesses are at the top of the listeners’ list. Paul makes time for a few listener questions between four closings and his across-the-Atlantic “vacation”. 

Recurring will always be main stage, but is there room for expanded services to play second fiddle? Sure, you can make the argument that pests have evolved, but how has the industry evolved over the last 20 years? It’s interesting to hear how the strategics view add-on services versus private equity.

With the end of ’22 in sight, what’s in store for the economy and the M&A market? In terms of bend but not break, will the economy be that lucky?

If Paul had a full-drip, Instagram-worthy platitude, what would it be?

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A listener’s economic question kicks off this episode although Patrick admits to his own self-interest. Following the listener’s follow-up research on Supernova, the signals and signs are out there, but what are they? The conversation inside The Boardroom turns to investing and the economy. As you can imagine, this episode earns its fair share of financial disclaimers. 

Paul chooses to self-manage his portfolio, but that begs the questions of how and why. Diversification goes a lot further than choosing multiple asset classes. Paul shares his investing mindset that goes beyond increasing wealth and into preservation. From crypto to commodities, there are various playbooks out there, but is there one that can solve for inflation? Paul can’t predict the future, but he does see trends reversing. Has anyone ever accused Paul of wearing rose colored glasses? He shares his take on massive demographic shifts and the very real threats of inflation. Tax receipts are at an all-time high, but they still can’t keep up with the US’s debt to GDP ratio. How will the US government navigate out of this extreme liability? Negative forward returns are on the horizon. There can be a variety of extreme outcomes. Take note. Ignorance will not excuse poor preparation.

While it may or may not change who you choose to follow on Instagram, it’s time to sign off with one last reminder that Paul, Patrick, and The Boardroom Buzz disclaim all liability.

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

Step into the Boardroom with one of Paul’s favorite pest control people. Mitch Smith discusses experiences which shaped his management style. He shares leadership lessons learned throughout his 35+ year career. This Boardroom guest started in the industry as a technician and rose in the ranks at both TruGreen and Centex. Before Mitch’s current position as COO of Edge, Mitch was the Pacific Division President at Orkin.

Mitch brings an interesting perspective to the ‘lawn vs pest’ discussion. He shares the direct connection between business maturity and universal technicians. Service specialist salesmanship may sound like an oxymoron, but trust and unrefinement go hand in hand.

While personality profiles find their way into this culture conversation. What are the betting odds when against forcing a square peg into a round hole? Mitch preaches that influencing company culture is more than attending a two-week seminar. It turns out that learning from direct reports and self-reflection has a lot to do with leadership. Mitch recalls a realization moment when a mentor taught him to look in the mirror.

Sports analogies abound as running, juggling, and lifting get shared in this sit-down discussion. Hear how Mitch describes spending energy units for high growth and high service delivery standards. Mitch brings management metrics into focus as he shares his tenured strategy.

Do you come to this conversation with buy-side in mind? Tune-in to hear Mitch’s post mortem metrics following an acquisition.

Perceived value is critical to keep the recurring revenue wheels turning. Before you listen, ask yourself, ‘how do I measure world class service?’

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

Is there a safe answer to the oft-asked but rarely-known “what’s my business worth?” From scaling to an exit strategy to the intricacies of valuation multiples, Paul and Seth tackle a range of listener questions. They even drill down on scaling a million dollar business towards the biggest possible exit.

Seth shares his personal thesis with Paul about valuation, but it’s not what you think. What could it be? What about monetizing consumer data, and using big data for marketing campaigns, cross-selling, upselling, and more? 

You might miss Fat Pat this week, but you definitely don’t want to miss Paul’s soliloquy on when to buy and when to sell.

Audio Mixing and Editing by www.verbell.ltd

As newly minted grads from the University of Georgia, the world was their oyster. But finding themselves in careers that no longer excited them, they decided to head off into the world…ending up in the US Virgin Islands working at a diner.

After retiring to St. John in their early 20s, they decided it was time to make their mark on the business world by taking over their father’s pest control “business.”

In this episode, we learn how these two brothers took their father’s $250K “business” and grew it to over $7M in revenue and multiple years on the Inc. 5,000, PCT Top 100 and Bulldog 100. We also learn what’s it like to run a business with your brother and ultimately sell it to a publicly-traded company.

The story of Inspect-All Services is a tale of inspiration, trial and error, and family business.

What would these brothers have done differently looking back? How did they grow one of the fastest growing companies in America? In listening to their story you’ll quickly realize why Paul says, “If I were shipwrecked on a tropical island, I would definitely want to be surrounded by only women, but if there had to be two guys on the island, I’d want it to be Brian and Brandon.”

They say that history repeats itself, but where (or when) do we look back to see what’s in store for this economic outlook? Pest control thrived in 2020. Should a similar outcome be expected for this economic cycle? Help us welcome back Wall Street equity analyst Jamie Clement for another chat in The Boardroom.

With a curative revenue model, where does pest control fit into the budget as gas and groceries continue to rise? The election, energy, and ESG find their way into this week’s discussion.

Predictions were made on a Terminix (then ServiceMaster) takeover back in “JBug’s” Episode 6. Let’s see how the predictions panned out. Also, tune in to hear how Rollins is staged for future M&A participation. 

And on a literal side note, will Patrick be making his maiden voyage to a tattoo parlor?

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

History repeats itself. The economy is plagued with mispriced assets, but what’s next? Tune in to hear which era paints a dismal future.

Paul places his bet on private equity for the year, and it’s a big target. Who’s side of the bet are you taking?

Before pressing play, ask yourself: Does money flow in and out of markets?

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

MUST READ before you watch this episode… Instead of providing you a brief overview about Paul’s experience with private equity, capital structure, the competitive process to raising debt, and the ever-changing dynamics of the M&A market, this week you’re going to play a game. Every time that you hear Paul say “Fat Pat”, take a drink.

Watch on YouTube

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Filmed, Edited, and Mixed by Dylan Seals of www.Verbell.Ltd

Additional Videography by Gabriel Gonzalez.

Additional Editing by Garrett Ware.

Potomac Pest Control Group: potomacpestcontrol.com

Tracy Judnich along with his two business partners, Joe and Jeremiah, led The Bug Guys to a solid (and speedy) exit. Certus has taken over, but looking back, what would Tracy do differently?

Paul gives props to Tracy's unique capabilities. You'll be hard pressed to find a denser service map. That mad focus went straight to the bottom-line. Join the conversation as The Rule of 23 goes under the interrogation lamp. What top-line and bottom-line growth did his business have? How does it compare to Mike Rogers', Jim McHale's, and...Patrick's business?  

The business had roots on the doors. In fact, he reveals his connection to a previous Buzz guest. The Bug Guys maximized sales at the door, but it wasn't on the doors. Tracy gives details to this specific concept plus other start-up advice.

You'll hear his opinion on selling over the phone and experience with bundling sales. The funny thing is that Tracy can't turn off his salesmanship. Who knew explaining employee benefits would turn into a sales presentation? He describes how compensation is more than an hourly rate.

Stick around to hear Paul preach on pricing again. Is it ever too little too late for a price increase? Uh oh. Does Paul need to call Bobby?

It's 2am. What are you smoking?

Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com

While Uncle Paul is away, Fat Pat and BroSeth tackle subscription billing and collection exceptions. How long should companies should stick to service once a customer gets behind?

Customer communication is a tricky wicket. Who gets price hikes and how do you communicate them?

While Seth is fielding all the questions this week, let’s get his take on artificial intelligence. But this isn’t an A.I. convo you’ve heard before.

Audio Mixing and Editing by www.verbell.ltd

He’s made his way up the ranks in the pest industry but David Johnson finds himself falling into plumbing of all places. Buy a commercial plumbing company in 2020 without any experience? It’s a great idea, they said. 

Now the proud owner of Atlanta-based Citywide Plumbing, David shares his life lessons on leadership, sales, taking risks and more in this Boardroom chat.

David takes us back to his pre-pest days in retail and his moving & shaking days of commercial pest control sales in Orlando. Tune-in to hear David’s take leadership and more in this multi-decade look-back. 

Have you ever seen your “exes” get married? David has.

Audio Mixing and Editing by www.verbell.ltd

Years before Boardroom Buzz fans celebrated their 100th episode, Paul participated as a guinea pig back in his Cornell college days. It turns out the research became of one psychology’s most recognized studies, the Dunning-Kruger effect. Is there a better way to celebrate 100 episodes than sitting down with Dunning-Kruger’s David Dunning PhD?

Maybe you’ve made it this far in life without taking a psychology class. Take a seat because class is in session. From self-awareness to intellectual humility, it’s time to re-think things. Seth Garber joins Paul and Patrick to discuss the depth of Dr. Dunning’s infamous research to his current day work. Cutting class can be cool, but make sure you don’t skip this one.

Audio Mixing and Editing by www.verbell.ltd

As president of Sprague Pest Solutions, Ross Treleven holds the reins of the nearly century old family business. Following in the footsteps of the 3rd generation while literally holding the 5th generation (his newborn Kate is soooo cute by the way), family values come through in this interview surrounding the largest family-owned commercial pest control company in the United States. He is responsible for living up to the family expectations as well as finding success for over 300 employees. No pressure, Ross.

From management cadences to leadership development programs, Sprague does a lot well and continues to find ways to improve. Listen for the cost / benefit analysis Ross shares of focusing on commercial-only pest control. 

Sprague Pest Solutions by the numbers. $40M annual revenue. 96 years. 300 employees. 20 branches. 10 states. 1 focus.

Audio Mixing and Editing by www.verbell.ltd

Bill Hoffman breaks down his buy-side basics in the Boardroom. Paul and Bill first met in Philly 15 years ago. Since then, Hoffman’s Exterminating has grown into a serious northeast contender.

While the big money buys up businesses, Bill shares his tips on making friends with neighborhood competitors. (Keyword: friends.) That’s the key that unlocked Bill’s now 8-figure business.

With 15 acquisitions in the last 6 years, he has experience with integration, payroll, and the growth beyond the acquisition. Hear his take on deal structure, financing, and how he keeps his Brady Bunch business happy.

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

Jay Keating finds himself at the helm as CEO of PestCo Holdings, a Thompson Street Capital Partners portfolio company. He returns to The Boardroom to dive deeper into his background and what’s in store for PestCo. Give credit to All America Sears’ Chuck Steinmetz for finding Jay, and now Jeff Aiello for bringing him back. Tune in to see how Jay views what’s changed as he returns to the industry.

With a blank slate and a few deals in the books, Jay is looking to build his team. He has already brought on leaders through acquisition, but what leadership gaps exist & how will he fill them? It’ll be interesting to watch from the outside looking in as PestCo picks up more brands, geography, and capabilities as they bulk-up at a rapid clip.

The industry has seen a lot of private equity try to compete. Listen in as Jay discusses how will PestCo will differentiate itself. Paul prods Jay if PestCo could be the right exit strategy for founders that want to completely exit.

By the numbers: $1.3B fund, 90 days as CEO, Top 25 size company, 4 companies acquired via 3 deals. Once a year service? TBD.

Watch it now on YouTube

Filmed, Edited, and Mixed by Dylan Seals of www.Verbell.Ltd

Additional Videography by Gabriel Gonzalez.

Additional Editing by Garrett Ware.

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Potomac Pest Control Group: https://www.potomacpestcontrol.com/

Brian Lunsford, owner and CEO of Bring the Joy Ventures—the parent company of LunsPro Inspections, Kingfish Pest Control, JoyLights, Fix-it Flamingo, and Jacksonville Real Producers—rejoins The Boardroom Buzz to recount his journey as a business leader. After a successful pest control business sale in Atlanta, Brian and his wife Kristin are building synergistic businesses in Jacksonville with less personal risk. How could a liquidity event give you the capital and confidence to build again on your family’s terms? 

Mentorship and personal connections are key in any leadership position. Brian proactively sought out experienced individuals to learn from. At Bring the Joy Ventures, it's about collaboration and the abundance mentality over micro-managing and secrecy. How can you start building a network of mentors and peers to support your growth?

Brian highlights the need for work-life balance, stressing that while work is important, it shouldn't overshadow family and personal growth. To Brian, family comes first. He encourages leaders to ensure their employees prioritize this balance too. How can you promote a healthier work-life balance within your team yet still exceed your business goals?

Audio Mixing and Editing by www.verbell.ltd.

You’ve likely heard the term EOS® (Entrepreneurial Operating System). Maybe you read Traction. Heck, maybe you’ve drunk the Kool-Aid. The real question is: Have you read Rocket Fuel? Expert EOS Implementer Mark C Winters teamed up with Traction’s author, Gino Wickman, to produce the groundwork for the top of your accountability chart. 

So what, or who, is at the top? Enter the Visionary and Integrator. Mark argues it’s this one-two combo “that will get you more of what you want from your business.” Hear how the two top-level leaders work together to dream-up and execute ideas. From management to strategy to entitlement, this interview covers the gamut of leadership and execution.

You’ve heard Paul mention a few times on The Buzz that the founder is not always the best CEO. What’s Mark’s take on this?

With Patrick and Seth’s new business launching the week of PestWorld, can Patrick extract free advice from Mark in this interview?

So what’s next for you? Join the free Rocket Fuel Community, or check out Rocket Fuel’s Crystallizer Assessment.

Audio Mixing and Editing by www.verbell.ltd

Link To Video Episode

You know there’s going to be good information when the interview starts with a legal disclaimer. Phil Tortorich sits down poolside with Paul and Patrick in The Boardroom’s first San Juan Session. This interview is the prelude to Paul and his wife sitting down with Phil for Paul’s personal planning.

Phil made his Boardroom debut in Episode 73. Phil steps into the outdoor Boardroom to respond to a listener’s question about the pros and cons of an LLC taxed as a S-Corp vs being taxed as a partnership. The three also discuss The State and Local Tax (SALT) Deduction for 2021, the likelihood of retroactive capital gains taxes, captive insurance, and asset protection. This interview dives into more details on trusts and personal effects. Hear how a trust is used to gift shares to the next generation. Pull up a lounge chair, and join us on YouTube for this pool patio interview.

Co-Produced, Edited, and Mixed by Dylan Seals of Verbell.Ltd

Let’s keep this short and sweet. Paul and Patrick answer six listener questions.

So the 6th listener to email thebuzz@potomaccompany.com with the Subject Line “I actually read this” will get a gift.

Audio Mixing and Editing by www.verbell.ltd