In this episode, John interviews Christine Koval, the founder of Next Haven Group, who is in the process of acquiring a business to grow. Christine shares her background, starting from her roots in Chicago, her education at the University of Illinois, and her MBA from the University of Chicago. She discusses her career journey, including her time at Abbott and her impactful experiences at Chewy, where she worked on projects like shipping frozen dog food and leading the venture into pet insurance.
Christine explains her current endeavor with Next Haven Group, which focuses on entrepreneurship through acquisition. She describes the model she is working under, which involves partnering with investors who provide both capital and mentorship. Christine highlights how this model supports young operators who are looking to acquire and grow a business by providing a network of experienced mentors and a framework to find a suitable company for acquisition. She emphasizes the importance of building relationships with business owners who are considering succession plans and how her experience positions her as a credible option for these entrepreneurs.
During the conversation, Christine outlines her criteria for assessing potential businesses to acquire, focusing on three main pillars: being part of a growing market, having recurring or repeatable revenues, and demonstrating a strong history of margins and cash flow generation. She discusses the importance of understanding a business’s competitive advantage and ensuring it continues to meet demand. Christine also shares insights from her professional career, highlighting the significance of having the right people, maintaining customer centricity, and the necessity of taking calculated risks.
The podcast concludes with a light-hearted segment where Christine shares her personal interests, including her favorite music—mentioning artists like Pitbull and bands like Fleetwood Mac—and her love for Friendsgiving. She also reveals her dream alternative career as a Peloton instructor, appreciating the company’s customer-centric approach. Throughout the episode, Christine’s insights and experiences provide valuable lessons for entrepreneurs navigating the challenges of growing and acquiring businesses.
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