As the managing partner of Sun Acquisitions, Domenic Rinaldi helps entrepreneurs buy and sell businesses. Since 2005, he’s been personally involved in over 300 transactions and is passionate about helping entrepreneurs maximize value and minimize risks of their transactions. He is also the host of the M&A Unplugged podcast.
Entrepreneurial Role Models:
None
When business started difficulties overcame:
“I had never really been involved in many deal transactions. I had done a couple but now I was running a business that was helping people buy and sell. I had to roll at my sleeves and really learn this industry. And I dedicated myself, the first two years that I own the business, to being the best dealmaker in the firm. But it wasn’t easy, I had a lot of struggles but over time I learned and eventually became the rainmaker for our company which then gave me the flexibility and the gravitas to recruit other people and teach them”…[Listen for More]
Favourite Books:
Dale Carnegie BooksFavourite Quote:
- “you don’t know until you ask”
Also mentioned
- “You, me, or nobody is gonna hit as hard as life. But it ain’t how hard you hit; it’s about how hard you can get hit, and keep moving forward.” Rocky Balboa by Sylvester Stallone
Recommended Online Resources:
- Flipboard curates the world’s stories so you can focus on investing in yourself, staying informed, and getting involved with curated packages that offer insights and inspiration for any interest, Flipboard will make you feel like you’ve spent your time well.
- Morning Brew – The daily email newsletter covering the latest news from Wall St to Silicon Valley Informative, witty, and everything you need to start your day
Best Advice to Other Entrepreneurs:
“if you own a business my strong advice is from day one work hard to not be the business. What I mean by that is to not have any functional role in the business at all. To really be able to sit back and work on your business from a much higher level. And I say it for a couple of reasons: 1) I think it will be a lot more gratifying when you don’t have to be involved in any particular functions unless you decide you want dip your toes in the water. 2) You will create the highest value for your business when you are not involved in it. And the third one because this is my business. There is a date on the calendar that most people look to sell their businesses. That date may be of your choosing but it may not be of your choosing. And when it’s not of your choosing it’s usually not under good circumstances like you’ve got a partnership breakup, a divorce, you’ve been diagnosed with an illness. But if you have been running your business so that it is self-managed that date won’t matter because your business can continue to operate and function because it hasn’t been reliant on you and it will maintain value, your people will be okay, your legacy will be okay. So, I think all entrepreneurs who own businesses should work very hard at creating a self-managing business”…[Listen for More]
More About Domenic Rinaldi:
Neil’s Quote at the Beginning:
Other Quotes From the Chat with Domenic Rinaldi:
- “I not an original in any sense of the word. I have always been someone Who has looked at other people and looked for the things that they do really well and I try to replicate it. If I see somebody and respect them and see that they are doing something great, I tried to learn from them and then see how I can replicate it”
- “I wish Neil I would have hired coaches earlier in my career. I came to coaches late and I sorry I did… I have found some coaches recently that have really have had a tremendous impact on me personally and as a result my business, the people that work for me, my family. And I would have done that much earlier. Surround yourself with experts, surround yourself with people who know more than you, that can help you, that have your back”
- “I would have found people to do more of the things that I don’t like doing much earlier in my business so I could relieve myself of the things that drained me and zap me of my energy so that I could focus on the things that I really love to do and I am really good at”
- “certainly, perseverance to me is really important because… When you are an entrepreneur you are going to get not down, people are gunning for you and you are just not always going to get it right. You have got to be able to sit back and learn from what went wrong and then pull back up your boots and get back on the horse, don’t waste any time. You are not going to get them all right. And I think persistence and perseverance are so important when you own your own business. And I also think curiosity and listening are really critical”
- “always be listening to what’s happening around you. Don’t listen for the things that you want to hear, listen for the things that you maybe don’t want to hear but you need to hear. And figure out whether or not those are actionable things that you need to move on”
Leave a Reply