In our second episode, we explore a different form of entrepreneurship and small business ownership - leading a business as the CEO of a hold-co portfolio company. Dwayne Luquetta is the CEO of Chenmark-held Benjamin Moore of Kelowna - a paint retailer located in British Columbia. Dwayne discusses the drivers of his decision to partner with Chenmark, the challenges he faces as a new CEO, his thoughts on growth, and his human capital strategy. Zach and Vivek follow up with a discussion of entrepreneurship in Chenmark and an evaluation of franchise and franchise-like models.

If you are interested in small and medium sized businesses or search funds, we hope you enjoy this episode!

Follow us on Instagram @LeadingBigStartingSmall or connect with us on LinkedIn.

Episode Summary:

• What working for a Chenmark holding company is like and how he decided to work at Chenmark (01:00 - 06:03);
• How to evaluate the decision of working at Chenmark against traditional corporate jobs and starting a search fund (06:03 - 11:40);
• Explaining the business of Benjamin Moore Kelowna, the size of the business, and the challenges in the first 90 days as CEO (11:40 - 23:40);
• Conceptualizing growth levers and an evaluation of customer selection (23:40 - 32:00);
• Human capital strategy and thinking about hiring and training employees (32:00 - 39:13);
• Chenmark’s impact on Dwayne’s business and advice (39:13 - 48:55);
• Zach and Vivek debriefing and discussing the Chenmark and Franchise Model (48:56 - End);

Intro music by Rex Banner

Welcome to our first episode where we dive into the universe of craft beer with our fellow classmate, Ivan Morales, Founder and President of Cervecería Insurgente. Ivan shares his inspirational story about entering craft brewing with his brother and mom, winning competitions, and hitting road bumps. Ivan and his brother started this entire journey like many listeners... just drinking beer for fun. However, following the loss of their father, brewing craft beer provided Ivan and his brother a way to cope and bond. They went on to build a brewery that put Tijuana on the craft beer map.

Zach and Vivek dive into the meaning of the brewery to the Insurgente employees, the cost of growth, and the characteristics Ivan would look for in a potential buyer.

If you are interested in small and medium sized business or search funds, we hope you enjoy this episode!

Follow us on Instagram @LeadingBigStartingSmall or on LinkedIn

Additionally, follow Insurgente on Instagram @Insurgentebrew