Ep. 9 Technology Can’t Be a Negotiating Point Featuring: Michael Thomas
“I feel like it’s a child. You’ve raised it up from nothing.” Michael Thomas has spent 20-plus years building and exiting companies — from a Farmers Insurance agency to telecom operations to his current venture, Bright Lane Systems, six months into building industry-specific phone platforms for hospitality and senior living. He’s watched private equity step into companies he helped build, rebuilt teams that had been gutted overnight, and learned firsthand which exits actually hurt and why. This conversation gets into what happens to the people who create value once the owner is gone, and what it really costs — personally, not financially — to walk away from something you built.
The Exit Series is produced for general informational and educational purposes only and is not investment, legal, or tax advice. Views expressed are those of the host and guests and do not necessarily reflect those of any affiliated firm. The host is associated with an SEC-registered investment adviser; nothing herein constitutes an offer or solicitation of advisory services. Guests are not necessarily clients.”
Michael Thomas: Thank Bob. appreciate you having me on here today. what I’m building right now is industry focused or vertical focused voice platforms for hospitality, for senior living and for office spaces. my my clientele or the people that I’m actually trying to serve right now are senior living spaces, again hospitality. And anybody who needs a voice a phone phone system. in their office space. it’s it’s really something that I believe greatly in. I’ve seen a lot of tumultuous integrators try and fit things where they don’t particularly fit. so that’s our focus right now is just really trying to build something for those specific industries.
Bob Roark: So with that being said, so if you were to describe your ideal client, who’s your ideal client?
Michael Thomas: my ideal client really is and and that’s a great question. That my ideal client is hotel operators who look for value in their systems for understanding that phone systems are phone systems. We understand that. The the guests uses the phone, they expect it to work. but our approach is really trying to find efficiencies within the the ramp up, the implementation and the support and an ongoing operation of that system itself. system is no good if it doesn’t work. and if we can save money implementing the system, I I really think that is going to be key in driving the value for these operators.
Bob Roark: Okay. You know, you had an interesting career arc. You’ve been VP of operations, director, agency owner, founder, CEO of your own company. Not exactly a straight line. What’s the thread that connects all of that behavior or move?
Michael Thomas: thread that connects all of that I think is my my desire or my my need to find solutions whether that’s out in the field as a a field installer as a field tech I I’m looking to find solutions whether that be for the company or for the the customer or the company But if you look at the career arc itself going into different parts of the operational team, I’m you know, you’re just changing that focus of finding a solution from down to the customer to the organization, to the the team members, to the employees that work for me and trying to to make their job better, the the way they do their job easier. so the focus really is always been the same, finding solutions across different parts parts of the organization at different levels. And that’s really what has been keeping me, I guess, driving towards success for myself i is is being able to find that solution, being able to be innovative and and think outside the box in those in dis in instances.
Bob Roark: You know, that I think about friction, right? What’s you know, the friction, either an inefficiency or a lack of some particular technology or or tool? And you know, when you’re talking to your current clientele, you know, they’re they typically have a problem of some description, whatever it is, you know, inefficient system, inefficient communication, tool don’t work right, cost too much. What’s the typical main friction point that Bright lane solves for your ideal client.
Michael Thomas: I for my ideal client, I think that the well I I know that the the friction point that we solve really is the flexibility in the system itself. right now you’ve got so many integrators out there, so much sorry, so many developers out there that are creating solutions based on the larger customer base. is has to be hosted. that the but there are a lot of hotel operators out there that don’t want a hosted system. So our system again is is very flexible in that regard. It can be on site, off site in the in the cloud, or it can be a hybrid solution thereof. but it really is about providing that flexibility for the customer. We are not the cheapest on on the block, but we most definitely provide the value b I believe that they are looking for.
Bob Roark: You know, it I I think about all the things you you worry about as a business owner, you know, whether it’s civilian or military, communication’s sort of a key component of all of operations. If you can’t communicate, then it really doesn’t work very well. You know, and you know, in segue in a little bit, you owned a farmers insurance agency also. And you know, and then you had your name on the business and clients and books. You know, what was it like when you transitioned away from that particular business?
Michael Thomas: That one I would say was a little bit harder than others that I’ve stepped away from, to be honest with you. You create relationships, although you have relationships in in other verticals it’s as well, but these are personal relationships. You’re speaking with people who are talking about protecting their families, protecting their assets, and you really form that relationship with the customer. And stepping away from that, having your name on it, having those relationships, it’s that’s a little bit harder. because you’ve got so many of them. It’s and it’s I think for me it was more on a personal level, really trying to find solutions for these families that fit their one, their budget and their need. so walking away from that, not so much from a financial perspective, but from a personal perspective, it was much more difficult for me to walk away from that.
Bob Roark: Okay. yeah, yeah, it yeah, that’s for sure. you know a lot about families you wouldn’t know any other way. Cause they’re trying to
Michael Thomas: I do. Yeah.
Bob Roark: trying to risk manage. You know, you started Bright Lane systems in January of this year. So you’re what six almost seven months in. What made you decide to build something basically from zero again instead of going into another executive role?
Michael Thomas: Now, Bob, as you said, I’ve got some 25 years experience in the hospitality technology and technology verticals and telecom. And what I’ve seen over the years really is a a lot of ways to do things wrong. I’ve seen CEOs dictate to the customer what their solution should look like, what their needs are. So what I’ve done is I’ve taken my experience and again I’ve I started out as a field tech in the industry, servicing hotels. and and keeping their systems online. But from that, moving in through different levels and layers of management, I’ve had the opportunity to lead your field technicians, your project management team, your sales engineering team, product itself, implementation and support. And throughout that time, I’ve I’ve I have built relationships with people in the industry that we service. And what I’ve what I’ve done is I’ve taken that 25 years of experience, taken those pain points that I that as I’ve seen them, and tried to listen to the customer as much as possible. Of course, there are things out there that are simply undoable, but we do our best to to make an a solution that fits their needs and their desires. so basically I I saw an opportunity to take all of that knowledge that I’ve accumulated over the years and put that into something I’m very passionate about and which is which is technology. I’ve I’ve I’ve always been around technology throughout my entire career. I will not step back into the time of my Commodore 64 days. But that’s where it started.
Bob Roark: Yeah.
Michael Thomas: You know, I I I found interest in in in computers and technology at a very young age and I’ve I’ve taken that throughout my career. But I really am very passionate about the solution that we provide. being able to take that knowledge that I have and developing something that I really feel like delivers something that most other companies don’t deliver. And that is a solution that the property, the ownership group, the operator that they need, that they want. And that’s what I’ve done.
Bob Roark: You know, I I excuse me. I you know, I I think about what you describe as, you know, from field tech on up through there. So you have a sequence of skill sets that you built from basically ground level. You’ve seen what doesn’t work in the field all the way up to
Michael Thomas: Yes.
Bob Roark: running teams that fix it in the field. You know, and how do you frame that yourself on the value from the intellectual property that you’ve gained through the years of doing that kind of work? How you know how do you frame that when you’re talking to a potential client? You know, I’ve seen that before, I’ve done that before. How do you do that?
Michael Thomas: I do that and by just simply explaining that the systems that we focus on are are are built with a holistic view. I’m thinking about the guy that has to do has to configure this system, the the sales engineer that has to go out and do discovery to figure out how this thing is going to work or how it does work and needs to work, you know, once we’ve replaced it. Project management, implementation, all of these things are taking into
Bob Roark: Yeah.
Michael Thomas: account while we’re building the system. you know, we we’ve implemented AI in the system, not so much from a customer focused perspective. You know, think about the the guest that calls in or the the the resident that calls the front desk or reception. sure there’s some of that, but most of the AI AI that we’ve built into the system really is focused on s on the solution of creating efficiency and simplicity from from discovery to implementation, even into support. So again, when I communicate to potential customers, I l simply tell them this is built on a holistic level. This is this is taking everything into account, not just the customer picking up the phone.
Bob Roark: Okay. You’ve been in PE backed environments and companies going through the operational transformation. When an organization is being positioned for its next stage, what happens to the people that built the current stage? What have you seen?
Michael Thomas: I what I’ve seen in general is the the when something has been built or is being built and PE takes over or or steps in, is is that the stage that we’re talking about right now? We built it, PE steps in and then what happens? Is that what you’re asking me? So what
Bob Roark: Correct.
Michael Thomas: what I have found in general, is and and this is where I I caution people that If you’re building it with in the and there’s an understanding that PE will step in or is anticipated to step in, then I don’t want to say that you have to have an exit plan, but you have to come into that and understand that knowing that there could be some changes. PE steps in. It’s generally impersonal. you know, it’s it’s it’s an impersonal relationship with an organization that they have not built. And they’ll come in and and and and I have seen where they simply replace leadership. they change things. and and ultimately I think for the organization for the company, for the valuation of that organization and company, I think that they’re taking the right steps as they see fit. And and in most cases I’ve seen that the value has grown from that. but the people that are there that built it, quite honestly, I I think they are at risk. I I think that they should take into account what their next step might be.
Bob Roark: know and kind of further down that road in your experience across telecom and technology companies, you know, when the founder or the owner exits, you know, and what do you t you know, I I think there’s probably a couple of ways that the operational team that they had in place to build the company, does that machine and those people keep running it? Or does something break or what typically is the outcome after the founder or owner exits?
Michael Thomas: in my experience after the founder and owner exits, the the there is a period of transition. There’s a period of organization right down to I would I I don’t want to say the the lowest paid individual, but those, you know, those on the front line, those those individuals that are are making the day-to-day operational task, you know, come or complete. they are uncomfortable when when the leader steps out. And I think it’s very important from a transitional perspective, or think about change management, that that communication right down to that lowest level employee, that we continue to communicate their value to the company and and letting them know that they are important and understanding that things change, I I think again it’s important to make sure that that communication goes down to your frontline employees, because there there is a level of discomfort that is created when somebody steps away, whether that’s voluntarily or not.
Bob Roark: You’re working in the hotel and senior living community space. Those are the business where the owner is, you know, generally deeply connected to the property, the staff, and their residence. When one of those properties changes hands, what do you see happen to the the folks that ran it? Is there is that different than the telecom space?
Michael Thomas: I don’t know that it’s too much different. I mean I I again you’re talking about cer s there are different levels of of involvement when it comes to employees and and looking at the guests and the residents within those that architecture or those environments. the you know, the the hospitality industry, you’ve got guests checking in, checking out every day, but there are longer term residents in those senior living facilities. And I believe that given the the level of interfacing with those residents, that the camaraderie between the employees is also a little bit different. I think there’s more focus on general care of those of their customer base, which is a resident. and I think that that creates a different type of connection. so when somebody steps away, I I think there’s more reliance on each other on the on the as I’ve seen. Yeah, that’s it’s it is different. It’s it’s yes.
Bob Roark: Yeah, the small known factoid. I worked in an extended care facility when I was in college, known as a nursing home in those days, not as a senior care facility.
Michael Thomas: Yeah.
Bob Roark: Yeah, so it it gives you a perspective you don’t get any other way. So an interesting time. So for you, you know, you describe yourself as someone who brings leadership continuity to organizations. So that phrase implies you walked into a situation where continuity was missing. What does a company look like when you walk in the door and the person who held it together is gone or the person or there’s continuity missing or leadership missing? What did that look like to you? What did you do and how did you turn it around?
Michael Thomas: I think case in point we’ll use an example of an organization that I walked into or was brought into where the leadership team all but gutted the entire operational organization, right down to you know just a few individuals. And I was tasked with rebuilding that organization, you know, within a couple of weeks. it was I would say that from a continuity perspective, it’s it’s really again about change management. It’s about talking to all the employees that are still there and letting them know what the plans are, you know, what the trajectory looks like. as far as continuity, I I think that again, it’s it’s about making sure that you’re completely open with that employee base to help them understand, you know, what the next steps are. You know, how can they help? You know, where where where are you expected to utilize them? but from a continuity perspective, I I think that’s that’s really, you know, what I’ve focused on in my career is making sure that my employees, my direct reports all understand, you know, but what I’m thinking, you know, being very open with them. When when you’re not communicating in those instances, I think that’s that’s when you get individuals that are thinking about, hey, company’s blowing up, I don’t know what to do here, and they start exiting. And they’re still there for a reason. You know. and and that the value that they provide I think and it has to be protected.
Bob Roark: You know, thinking back. When when folks walk into an organization that requires you know, continuity the repair, you know, reinstallation, you know, mm any number of tasks that is your job, what does that look when you walk through the door and you go like, I’m gonna do this first, or how do you determine what you’re gonna do first? What’s what’s your process?
Michael Thomas: My process walking into a new organization is I take about a week. I I do a deep dive on on all of the roles that are are present. You know, what are they doing, what are they accomplishing, what roadblocks that they’re up against. I do interview as many of the employees as possible, depending on the level of of the organization. but then I I I put together a business plan within a week. these are your week points. you think about the you know, doing a vendor review and and you you your well I’ve lost the term in my head. your your risks, your weaknesses, your strengths, SWAT SWAT analysis. Sorry. I’ll pull it out there in a second. but I I basically do that for the organization. I I I I do a deep dive, I pull together a presentation, I I I give that to the executive team with my recommendations on what needs to happen next. but that’s that’s the way I I I approach those situations. Look at it, observe, find your weaknesses, your risks, and then present solutions within that week’s time.
Bob Roark: You know, you y you left for old, started again, you rebuilt, and you walked personally walked away from some of the stuff that you built or ran. You know, what was the hardest part personally, not logistically, but personally when you exit a business?
Michael Thomas: I the I think from a personal perspective, and I think any entrepreneur r that really puts their heart and soul into something and and that that they’ve created, it’s always difficult to walk away. it’s I don’t wanna say it’s like a child. I I have, you know, I’ve got eight kids, we’re gonna talk about that later, but I I feel like it it’s a child. You’ve raised it up. You’ve you’ve brought born it from nothing. You you’ve you’ve put your heart and soul and your mind and your creativity into this. and at some point you will walk away. and I think just coming to terms with the fact that, hey, it’s it’s it’s you’re passing it on to that next step, that next level of whether not success so much, but development or whatever that might be. I I think going into it, knowing that that’s gonna happen. is the only way that you can really come to terms when it does.
Bob Roark: You know, my presumption is you’ve seen other owners exit a business, you know, and and there’s a lot of discussion about that feeling like you sold one of your kids when you know, and and you’ve I’m presuming that you’ve seen business owners that have done that and transition well, and those that haven’t done that as well. What do you think, you know, if that’s the case, what do you think the key difference? is in the owner that exited well and navigated next really well, or they didn’t prepare well and they didn’t handle next real well.
Michael Thomas: I think the difference that I’ve seen is those that have been that have expected it or that have planned it. You know, when you when you get a P environments where they may not have expected this is, you know an unexpected change needs to be planned for. I I’ve seen individuals that have left, that have sold, that have gone on, that have started new things. or that have gone into what we’ll say retirement, but with with strings attached, hard to let go of the the businesses sometimes. And I’ve seen on the opposite side of that where there was an unexpected change where I I’ve seen the owner, CEO flounder for months, not knowing what his next step was. I I don’t think that any one of us can provide ourselves the luxury of not planning that next step, of not being prepared for the unknown. You know, what does that next step look like? I think that is always but and that things be on everybody at the forefront of everybody’s mind. I would even say, regardless of ownership or level of employee that they are. we we spoke earlier about longevity within an industry. you know, my dad was a you know a a company for some forty forty plus years. my longest tenure is eleven and a half years. Things have changed. and it changes at all levels of employment. all levels of you know, f from employee to director to manager to to CEO. and I don’t think that we’re doing any of our cell any of us are doing ourselves a favor by not planning that next step. You’ve got to plan. You have to be prepared.
Bob Roark: Yeah, I think there’s a whole field of study that’s either it’s either early or it’s coming that’s working in that arena. You know, shifting gears a bit, Bright Lane is six months old, you’re building something new now. Are you building this one differently based on what you’ve done in the past, what you’ve been through? Or is you know and you know, for you, if you’re operating that company, you know, we all exit. one way or another, either feed first or walking out the door, is there some portion of the company that you’re putting in place that would make it exit ready or an enduring if something happened to you, you know, while you’re running the company?
Michael Thomas: so yeah, there’s a lot to unpack there. from from from what I’m doing with Bright Lane is a little bit different than what I’ve done in the past. In the past, it’s always been service based, or a product that I personally didn’t own. but we are developing a product. We have developed a product. so we put a lot of ourselves into this. so from that perspective, I I think that that prepares or positions the company better. going down and going, you know, through the the evolution of it is having something that exists, having a a product that is is owned and built from a personal level, a personal experience level again, that will carry through. whether that be and my and my hope and plan is, you know, I I’ve mentioned I’ve got eight kids that there are some that are interested in it and that I intend on on bringing through. And if I step away, then my hope is that one of them will We’ll carry it on.
Bob Roark: You know, f you that that’s an interesting thing to consider. You know, there you know many founders would like to have their kids come into the business. And I think that’s variable on the ones that do, the ones that don’t, ones that are successful at it. Do for you, if it was ideal, what types of things day to day would you share with your kids that you do to see one if they have an interest and to you know, maybe develop some expertise for them to be able to come in with the business with you. What would you do? Or what do you do?
Michael Thomas: Yeah, I’m I’m fairly transparent with my kids. I let them in on most of my day to day and and and a lot of it is challenging and and one of the things that I do share with them is you know sometimes four o’clock in the morning hits and you’ve got an idea or two or three o’clock in the morning. And as a as a owner, operator, founder, and I would say I own the I guess the the product development roadmap. it’s it’s I’d get up and I do it. so it takes a lot of commitment. It takes a lot of I guess, flexibility in your own schedule and your own life to to be able to continue to drive a solution forward. So I share that with them. I let them know this is not an easy task. Business building a business is not easy. It’s there’s a lot that goes into it, a lot that you know comes out of you, and you’ve got to be committed to that solution and and to the the end results. which is success. You know, everybody wants to be successful. so I share with them, you know, the my daily workload, you know, how many hours a a day or a week that I might commit towards making this successful. there’s also a lot of technology involved with what we’re doing right now, a lot of coding, developing the platforms themselves. and I expect that I I have several kids that are are I t very technically minded, that are interested. some that are are interested in sales. but I’m hoping that through all of this that that they find within themselves to see something that’s been built by me that they want to carry on.
Bob Roark: Mm-hmm. The legacy, the family legacy.
Michael Thomas: The legacy, absolutely.
Bob Roark: let’s see. You’ve scaled operations, you’ve improved margins, you’ve built teams, you know, that that’s the work that you know builds value or value driver in a company. And for in your past experience, you know, you’ll see the various people that drive value in the companies they work for. You know, when that owner of the company exits that company, how do you see that person that was maybe not the owner, but was driving value in company. How are they rewarded at exit or do they just get replaced? What do you typically see for some of the key personnel that drive value in those companies?
Michael Thomas: that’s a tough one. So and I’m gonna ask for clarification on that one, Bob is so when a when a key personnel leave, how are they rewarded?
Bob Roark: No, no. So let let’s say that you’re you’re one of the key salespeople, one of the key designers, one of the key managers that recognize that there are certain concepts or practices that drive value inside of a company. Right. And the company is brought to the point the owner’s gonna transition and exit. And so the owner exits. And after the exit, what’s a what does life typically look like? For that person, that was one of the key you know, contributors to the value of the company that the owner got paid. I mean, are they taken care of or what do you typically see?
Michael Thomas: Well and I hate to be pessimistic and paint with a broad brush here, but I have seen this happen multiple times where owner has stepped away, new leadership has stepped in, and they simply they’re they’re coming in with an objective or they’re coming in with a metric that the that’s been placed upon them, whether that’s from a PE firm or a board or whatever, or the personally themselves. I don’t see a lot of time invested in understanding the individuals that did create that value, that understand how to create value within the company. And they’re often overlooked and sometimes unfortunately replaced. so my recommendation, and and again, the way that I’ve I’ve I’ve come into organizations is to talk to the people that work there, talk to other people that n, you know, understand what what others are doing in the company. I I recently spoke with a friend briefly and and he says, you know, nobody knows what I’m doing until I stop doing it. and I
Bob Roark: Yeah.
Michael Thomas: think that’s that’s something that we have to keep in mind when coming into new organizations is is understanding what those employees are doing and understanding that the value that they are adding. in most cases, I will say when I hire individuals, I hire them with a full understanding and knowledge and And trust that they know what they are doing. so I I I try and and and use that philosophy when I when I’m interviewing new employees in in a in an existing organization, so that we don’t figure out, hey, well, what happened
Bob Roark: Okay.
Michael Thomas: here? This broke. Well, you let them go. So you y you’ve really got to take into account why they’re there, you know.
Bob Roark: Yeah, and you know, in in for me in in my past world, you know, you had some key key leaders, you know, and and certainly in in the military background, you know who those folks are. And you really try to take and train, reward, promote. And and of course the military is really good at that particular channel and doing that. so th thinking about what you’re doing with Bright Lane Voice for Hospitality and Senior Living. If a hotel owner or senior living operator came to you and said they’re a couple of years away from selling, what would you tell them about technology infrastructure that they need to have in place to protect the value of that property and continue to drive value? What do they need to be keeping in mind?
Michael Thomas: i advising somebody in that in that particular situation, I would assuming that they are selling it, I would I would make sure that they understand that you don’t want your technology to be a negotiating point. You want to make
Bob Roark: Yeah.
Michael Thomas: sure that, you know, the technology that you’re handing off that or that you’ve implemented one meets the industry standards, depending on what environment that you’re in. that’s that’s forward looking, which bright lane voice is. we’re looking at, you know. legislation or or industry requirements that are not yet in place, yet we’re planning for them. so it really is about and I’ll I’ll repeat it, your technology cannot be a negotiating
Bob Roark: You know, I’ve I’ve done a few of these podcasts and I’ve not heard that articulated that way. Right? And I you know, I think about it, you know, it’s once you say it, you kind of go, you can’t quite unhear it. Right. Have you been in an instance where the technology ended up being a key driver or the negotiating point because it was either inappropriate or inoperable?
Michael Thomas: I well I’ll I’ll step back to a
Bob Roark: Yeah.
Michael Thomas: personal experience and it has nothing to do with the business that I’ve built and has nothing to do with the industry or the clients that I that I service, but I I I’ve built my own homes. I’ve sold homes that I’ve built. and in one particular case, and this is where the philosophy came in, was there was a negotiating point for a system that wasn’t built into the home. it was a radon radon system, a
Bob Roark: Okay.
Michael Thomas: mitigation system that, you know, I didn’t know that needed it, but you know, throughout the the home inspections, etcetera, it was found that it was needed. But it ended up being a a quite costly negotiating standpoint for the for the buyer. so and I think that that carries through to any environment, especially in technology. If if you y if you are going in to buy a business, And if I was to were to buy a business and I walk in and I’ve got to refresh something and I see, you know, phone systems that haven’t been touched in fifteen years, I will absolutely use that as a negotiating standpoint. I’m gonna have to replace that. It’s gonna fail. I know it’s gonna fail. I know that it doesn’t meet today’s standards.
Bob Roark: You know, I I I think about the appreciation for communication 100% on all the time, kind of like you know, power at your s at your socket. It’s always there, right? Or water at the sink, it’s always there until it’s not. And then you don’t fully appreciate that absence until you get to experience it like air conditioning when it goes out in the summertime. You really appreciate that particular item. And so, you know, for you in in kind of drawing this a bit to a close, you you know, you’re building now, you’ve operated, you’ve walked away, you’ve sold, and you know, and you’re building again in 18, 24, 36 months from now, when Bright Lane is further along, what would be the hallmarks that you would notice that says I’ve got this really built correctly for my clients? What would What would those hallmarks or indicators be for you?
Michael Thomas: Well, sales is a definite indicator, right? So that’s that’s an easy one. But for me is again more personal. I’m looking for feedback from the integrator, from the the the hospitality or senior living center or the office manager that has positive feedback about the the product itself. I’ll throw this throw this in. One of the things that I’ve told all of the teams that I’ve worked for and is that what you do in your professional career and most most people have felt this, whether it’s a new car, a new motorcycle, new home, whatever it is. I I I use the car analogy. You know, when you park your car, your new car that you’ve just bought and and you walk away from that, you’re going into the the office building, the store or whatever that might be, how many times do you look back at that? How many times you look back and man, that is a nice car. And that’s that’s what I want Bright Lane to be, you know. As I’m walking away in three or four years and I’m turning turning around how many times can I not turn around? Man, you know what? That’s awesome. I think we’ve really built something here and I think it’s really great. And and that’s the analogy and that’s that’s how I personally will feel that we’ve we’ve we’ve met that level layer of success is how many times can I can I do can I not look back as I’m walking
Bob Roark: Mm-hmm.
Michael Thomas: away? It’s something I I I hope be very proud of.
Bob Roark: You know, I I I had a car like that once. And I’d you know, I I hadn’t thought of that in a long time. Was there a do you remember a car or a boat or something like that that you had at one point where you it was like the first time you ever looked back and and looked at it and said, Man, that’s something. What was that car?
Michael Thomas: Yeah. It was a nineteen seventy-nine Mustang fox body. I bought it when I was I was fifteen. I wasn’t even sixteen yet. And I tell you what, I spent I don’t know how many times my parents laughed at me, but I would spend hours cleaning this thing before I even ever drove it.
Bob Roark: Yeah.
Michael Thomas: and it wasn’t dirty. You know, I would take seats out and vacuum underneath the seats. I would literally unbolt them, take them out of the car. I’ve nearly waxed the paint right off of that thing. But I couldn’t not look back at that. It was my first car, very proud of it. but I’ve had many since, but that’s the one that stands out in my mind is is yeah, it’s nineteen seventy nine. Well, I call it powder puff blue, but it was Ford Blue, whatever that was in nineteen seventy nine. But yeah. I I’d still look back at that car and think about that car on occasion.
Bob Roark: Mine was a 16 foot sidewinder, blue metal flake with a 150 Merck on the back.
Michael Thomas: There you go.
Bob Roark: And I grew up in the deep south and I would wax it every time before I put it in the lake. Never stayed in the lake. You know, and it
Michael Thomas: Nice.
Bob Roark: drive around the town square in the middle of Tennessee, pulling that thing around, was way proud of that thing for sure. But I hadn’t thought about that. That’s a great memory, you know, and I I think that’s, you know, to kind of wrap this up, that’s an awesome benchmark for a business owner. You know, if you step back from your business and you’re walking away from it and go, you look back and go, you know, that reminds me of my car. You know, I think that’s a good metric. Well Michael, I can’t tell you how much I appreciate you carving out time from your day, you know, and sharing your wisdom and intellectual property. you know, valuable and useful. You know, and for the owners that are out there, whether you know your pre or post exit, you know, and professionals that are serving that marketplace, you know, I would urge them to listen closely. So thank you for your time. this is the exit series. If you know of a founder who’s sold or is about to, or a broker who’s seen it, or attorney’s been across the table, send them this episode and subscribe wherever you listen, and we’ll see you next time.
Michael Thomas: Thank you, Bob.