The Fastest Way to Destroy a Business You Just Bought

Ben Mimmack runs Sulis Capital, an independent sponsor focused on the lower middle market. He buys businesses where the founder retains a meaningful minority stake and stays operationally engaged as a leader of leaders.

Which makes day one of any acquisition a relational problem before it's an operational one. In this conversation, Ben walks through why coming in with a “my way or the highway” mindset is the fastest way to torch the value of a business you just paid millions for. He talks about how trust gets built long before the deal closes, how to free a founder to do what they love and offload what drains them, and why the best deals rarely go to the highest bidder.

The bigger thread underneath all of it is what it takes to lead people who know more about their work than you do. That's a leadership discipline most of us never get formal practice in, and Ben has built an entire business around it.

If you're building toward a future where partners, capital, or a buyer become part of your story, the relational groundwork Ben describes is exactly the kind of work we help clients with at Unbottleneck.

  • (00:00) - - Introduction to Lead Smarter Podcast
  • (00:25) - - Meet Ben Mimmack of Sulis Investment Capital
  • (01:12) - - Insights on Leadership and Acquisitions
  • (01:44) - - The Importance of Relationship-First Approach
  • (03:15) - - Understanding Sulis Capital's Business Model
  • (04:45) - - Navigating Founder Dynamics After Acquisition
  • (06:10) - - The Role of an Empowered Advisor
  • (07:00) - - Establishing Trust with Founders
  • (09:45) - - Managing Founder Expectations and Communication
  • (11:16) - - Building Alignment Across Stakeholders
  • (12:00) - - Overcoming Negative Perceptions of Private Equity
  • (14:10) - - The Importance of Open Communication
  • (17:00) - - Trust-Building in Private Equity Transactions
  • (19:30) - - The Value of the Lower Middle Market
  • (23:00) - - Differentiating Factors in Private Equity
  • (28:10) - - The Impact of Quantum Computing on Business
  • (36:00) - - Advice for Future Generations
  • (41:00) - - Reflection on Leadership and Relationships
  • (42:01) - - Closing Remarks and Episode Wrap-Up
The Fastest Way to Destroy a Business You Just Bought
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