Dr. Phillip Hearn Ed.D. is a results-driven Senior Executive, Consultant, and Board Member with more than 15 years of success in the telecom, construction, professional services, and farming industries.
Leveraging extensive experience with expansion, and financing, Phillip is a valuable asset for companies, particularly in real estate, seeking guidance on growth opportunities and process improvement. His broad areas of expertise include research and learning, networking, account management, talent management, and customer service.
Currently Phillip is Managing Member for Family Business Properties, Lafayette Consulting LLC, Mid American Business Brokers LLC , and most recently Capital Investments USA LLC. His newest endeavor is a real estate-based LLC that focuses on investments, mortgage notes and real estate transactions. Capital Investments USA LLC, established in 2018, was spawned from the success of Family Business Properties, that Phillip has steadily grown to 7 figures over the last 14 years.
At Family Business Properties, Phillip facilitates construction project and supply management, project consulting, heavy equipment rental management, full commercial and residential renovations, enabling his clients to strategically grow their businesses, utilizing lean practices. Lafayette Consulting LLC has been operational since 2014. Phillip provides his clients with an array of services, spanning Telecom project management, bank financing, personal credit coaching, fiscal capital utilization and professional development training.
Phillip also leads new client development, public relations, marketing, and coordinates group travel for business entities. His role focuses on working with clients to find value adds and value engineered solutions to help complete projects on time and on budget.
Throughout his executive career, Phillip has held leadership positions with Good Life Growing LLC; CenturyLink; Verizon Wireless, and T-Mobile USA. Previously, as Managing Member of Good Life, Phillip formulated and implemented company policy; directed strategy towards the profitable growth and operation of the company; developed strategic operating plans reflecting the longer-term objectives and priorities.
He put in place adequate operational planning and financial control systems; ensured the operating objectives and standards of performance; maintained the operational performance of the company; represented the company to major customers and professional associations; built and maintained an effective executive team. During his prior tenure, as Global Account Manager for CenturyLink, Phillip led all prospecting and sales-related activities within an assigned territory; grew revenue and new bookings; utilized professional networks, relationships within customers, and other industry forums to create new opportunities/prospects.
Phillip built insightful and influential champions and coaches within accounts to help identify and qualify opportunities; he oversaw the customer’s decision process and created a closing process to ensure deal closure in a complex environment.
Phillip has obtained an Ed.D. from Capella University and holds an Executive Masters in Health Administration (EMHA) from Saint Louis University; an MA in Marketing and a BA in Media Communication, both from Webster University, and Lean Six Sigma (Black Belt) from Villanova University. He has served as a Board Member for the National Sales Network St. Louis Chapter and Ready Readers, for which he has also served as the Governance Department Chair and President of the Board.
Connect with Phillip on LinkedIn.
This transcript is machine transcribed by Sonix
TRANSCRIPT
Intro: [00:00:07] Broadcasting live from the Business RadioX studios in Atlanta, Georgia. It’s time for Buy a Business Near Me, brought to you by the Business Radio X Ambassador program, helping business brokers sell more local businesses. Now, here’s your host.
Stone Payton: [00:00:32] Welcome to another exciting and informative edition of Buy a Business Near Me Stone Payton here with you this afternoon. Please join me in welcoming to the broadcast with Mid-American Capital Holdings, Dr. Phillip Hearn. Good afternoon, sir.
Dr. Phillip Hearn: [00:00:49] Good afternoon, Stone. How are you?
Stone Payton: [00:00:51] I am doing well, man, and really been looking forward to this conversation. I think maybe a great place to start is if you could share for me and the benefit of our listeners mission purpose. What are you and your team really out there trying to do for folks, man?
Dr. Phillip Hearn: [00:01:09] Absolutely. So first, thanks for for having me on. I’ve been looking forward to this as well. So this would be great. So the genesis of Mid-American Capital Holdings is that we are working and trying to focus on experience to kind of give a mainstream feel to quote unquote the private equity experience. So that’s everything from focusing on companies that we’re looking at purchasing, also working with folks who are new to potentially purchasing companies or maybe even have experience, but want to start to expedite that process. So with our experience, my team and I have had over 45 years of business ownership experience, and then we have a expanding network of contacts, lead generation, the whole nine yards that allows us to go into that process and try to find a streamline. Because one thing that I hear about, no matter how seasoned or how new a business acquirer is, is trying to really streamline processes so you can’t get it right usually 100% of the time. But you can definitely work towards a method that is closer to perfection than chaos.
Stone Payton: [00:02:21] That sounds important. So what’s the backstory, man? How did you find yourself in this line of work?
Dr. Phillip Hearn: [00:02:27] So like most of my good stories, it’s kind of an accident, actually. So I actually started my first business. It will be 17, 16 years ago next month. I started my own procurement management company, so I’ve been used to starting businesses from scratch. I also have a background working in corporate America. I’ve done enough education pride to kill a horse. Right. So undergrad to master’s and a doctorate. But this is fun for me because it’s basically problem solving. And so as opposed to starting from complete scratch, which I’ve done with using most of my businesses early in my career to starting to buy smaller acquisitions and then growing into that particular space. It’s fun because you’re able to solve your use, your skill set to solve problems or challenges as you’re looking at those new businesses for acquisition and looking at even those opportunities where you see, Hey, I can play this role, I’m actually much more skillful than maybe sometimes you give yourself credit for to dive into that role of a C level or assembling teams or understanding what’s actually happening in that business and how to make it better. So I started with an accident with starting my own business, and it’s the closest thing I could find to playing sports. I’m a little older now, so trying to move around, playing certain sports is not quite the same as when I was 16, 17 and 18. So.
Stone Payton: [00:03:51] So now that you’ve been at this a while, what is the the most rewarding for you mean, what do you what do you enjoy the most?
Dr. Phillip Hearn: [00:04:00] You know, the two parts that I enjoy the most are the journey and the people. Everything is a people business. And I think if we’ve learned nothing else with everything that we went through with the pandemic, we’re now more connected than we ever have been, I think not only within the country, but but globally, truthfully. So dealing with people is kind of that tried and true piece of it. But it’s the journey. I mean, not every day is going to be perfect, nor do I expect it to be, but it’s a lot of fun. Even my worst days, quote unquote, in this type of business are better than some of the days I spent in different corporate settings. Right? I kind of look at it like I control my own destiny. I’m surrounded with fantastic people and I get to do something that is a becoming more of a passion project than even just work. So I would say the people in the journey are the two favorites for me as I as I work through this stuff on a daily basis.
Stone Payton: [00:04:51] Have you had the benefit of one or more mentors, particularly as you sort of embarked on on this fork of the path to kind of help you navigate this, this new terrain?
Dr. Phillip Hearn: [00:05:03] Great question. I’ve had mentors help with what I think is my mindset as I’ve navigated this. But I feel like with all the the trainings that I took in and trying to read up about it, I felt like I was going back to a master’s or a doctorate program. So part of my background is I’m not an MBA student or anything like that from your Harvards or your Wharton’s or your Stanford’s. My undergrad was Media communication. I originally wanted to be a sports broadcaster, so this is fun to be back and kind of a radio podcast scenario, right? I’m having flashbacks, which is fantastic. Undergrad, my first master’s was in marketing, second was in health administration, and then my doctorate is in education with an emphasis in leadership and management. So I’ve taken maybe a circuitous route to it. But at the same time, I think my past experience is there’s a ton of transferable experiences have helped me kind of get to this point. So mentors in my other facets of life, I think have helped me with the mindset of how we we attack and how we go about doing our business on a daily basis.
Stone Payton: [00:06:10] So, yeah, let’s talk about the work a little bit. Particularly I’m interested in sort of the the early part of the engagement cycle, if that’s the right. I’m kind of from the consulting world, so but the early on I would think that there’s quite a bit of information exchange and just kind of getting to know each other and speak to that that process a little bit if you could.
Dr. Phillip Hearn: [00:06:33] So I’ll give you two parts of that and I think you’re dead on with having that consulting background. So kudos to you. The early part of the engagement, any time you’re actually getting deeper into the deal. So let’s go all the way back to the beginning. The earliest part of the engagement is really just lead generation and understanding the data and the lead flow that you’re you’re trying to figure out. So what’s your criteria? Right? So we’re lucky to have some different experiences within my my leadership team on our end. So we kind of look a little wider in terms of the criteria piece. So when I say criteria, are you looking for deals that are cash flow or ibotta? How much are you looking for a specific purchase price? Are you looking for a specific vertical or industry? So that kind of starts the baseline and helps that search as you do your legion work, whether it’s email campaigns, direct mail campaigns, the whole nine yards, you’re really trying to understand that. So once you get a potential interested seller, let’s say, so we’re going to look at this on the buyer side. Then you start to dig into it’s a getting to know you stage, right? It’s kind of like dating stone.
Dr. Phillip Hearn: [00:07:36] If you’re early in the relationship, you’re everybody’s on their usually their best behavior. Right. But you’re trying to really understand what’s across the table from your what’s across the coffee shop from me or wherever your first date may lead. So you’re trying to get an understanding of what the business is. Right. Tell me more about the seller. Tell me, how did you get here? So very much like you did with me today, which is great. Let me understand why you’re looking at potentially selling. So all of the why type questions. What I’ve learned in this business is that you revert back to being a five year old, which is you ask a lot of why questions, right? Why are you looking to do this? Why is this the case? Why are you looking to retire and move on from this business? We hear that quite a bit lately. So you’re really just trying to get an understanding of the story. Why is this taking place? Why is this owner or this seller at that particular point? And then what are they looking to accomplish with the sale? So I think if you start there in the early stages, that starts a good baseline for the conversation.
Stone Payton: [00:08:34] I got to believe you must run into people on both sides of the equation. You must run into some myths or some preconceived notions, some misconceptions, just things that people think they know about the process and the arena that is just, you know, not not the way it is. Is that accurate?
Dr. Phillip Hearn: [00:08:55] That would be very accurate. Yeah. You said it better than I probably could. So yes.
Stone Payton: [00:09:01] Like, what are the what are some of the things they get confused about? Are they just they don’t they just they’ve got it wrong.
Dr. Phillip Hearn: [00:09:09] So I’ll give you one from each side as a buyer. Don’t think that the seller is necessarily trying to trick you. So one of the myths is, and you see this a lot in any size deal, but you see this a lot where you you take the information, you’re trying to understand the data. Right. So let’s say now you’re deeper into the process. You’ve written your letter of intent or your LOI. You have gone into the due diligence phases, so you’re working with your teams. So we’ve got a great, for instance, commercial fiscal, as well as legal team that helps us with those due diligence. And so as you’re finding information, you can take one or two tacks. I personally like to take the tack of, Hey, maybe this is something depending on the skill set and the experience of the seller that they maybe have never run into before. A lot of people will go, Well, wait, they’re trying to trick me. That means we need to just recast this deal. You start to throw the baby out with the bathwater when you do that right automatically. So being able to listen to the information or get the information, come back with salient questions. But nine times out of ten buyers, the seller is possibly not trying to trick you. You just may have to ask an additional set of questions to understand where they’re coming from. For the sellers themselves, it’s being realistic with the process. So the process is going to be chaotic, right? And you can preplan. So I’m a bit of a planner.
Dr. Phillip Hearn: [00:10:36] My friends would maybe call it something different, but we’re going to say the nice planning, we’re going to use planning as our baseline. So I like to have my checklist as a buyer or a seller, right? I want to have my checklist. I want to see how much of this stuff is applicable. Well, in some cases we’re dealing with sellers or you’re you yourself as a seller are maybe not experienced in selling your company. Maybe this is the first company you’ve ever had and this will be the last sale. So being understanding of maybe what’s being asked of you by the buyer is going to help matters because there’s there’s an honest fear, right the first time we do anything and I’m sure Stone you could tell us the same thing the first time we do anything, there’s going to be a little bit of fear, right? You call those guts, nerves, whatever. But there’s going to be a little bit of internal fear. So what you’re trying to do is find those ways to keep going forward while you know you’re walking a little bit in fear. Sometimes sellers are in that book. So Sellers understanding that it’s okay if you don’t know everything, hopefully you either have a trusted broker, a trusted intermediary, or you do your research to understand what you have in terms of the value and what you’re going out to do when it comes to the sales process. So a little bit for the buyer and seller in that particular book.
Stone Payton: [00:11:50] So on the on the seller side, there is helping that person go to market with their business and so often their baby. But how does the whole sales and marketing thing work for for you, for your practice? How do you attract the new clients?
Dr. Phillip Hearn: [00:12:07] Great question. So we I would say if we narrow it down to three major sections, if you will. So we create email marketing campaigns. Those are kind of that constant drip, right? So that gives us an opportunity to reach out to sellers, for instance, ones we know that are interested in selling, potentially ones that may not know they’re interested in selling, but they’re at least interested in hearing more. Right? So again, facilitating those conversations, I would love Stone to lie to your viewers and say, Oh, this happens overnight, right? Definitely does not. So some of that lead gen can take a little bit of time, right? So second, then you have your mail campaigns. So we like that too, because there might be some folks that go great. I have an email address almost because I have to. It’s important for me to get a piece of mail. I want to see it. I want to be able to call you. So mail and phone calls, it’s kind of our second direct bucket. Third, which sometimes can be the most fun and sometimes can be the most adventurous, would be through our leads and our our network, Right. So within our having leads or direct contact, someone saying, Hey, I hear you’re trying to buy a business. I’ve got someone that I hear is wanting to sell a business. Those direct connections are always beautiful. And again, every once in a while you can you can kind of choose your own adventure and kind of go down some rabbit holes based on what that seller is looking for. But it’s always great to know that people in your network are thinking about you to the point of you’ve told them exactly what you’re looking to do. Hey, we’re looking to purchase businesses. We kind of give them a criteria piece and then when they see it, they think of us before going elsewhere. So that’s always a plus when we get our network to do that. So I would say email campaigns, mail and phone call base campaigns, and then those beautiful word of mouth leads from your network.
Stone Payton: [00:13:54] Yeah. So let’s get a little bit tactical, if we could for a moment. And specifically, one of the things I wanted to ask you about was timeline and timing, because I I’m beginning to learn candidly from from hosting this series that it’s it takes a little longer than I would have anticipated. So so like, for instance, for example, you know, I own 40% of a pretty successful media company. If Lee and I felt like we wanted to achieve some sort of exit, I mean, this is not something that we start talking about in December and get done in. Q one probably, right?
Dr. Phillip Hearn: [00:14:33] Probably not. Yes. And unless you guys have all of your ducks already in a row, and if you’re a business owner like I am, that’s sometimes is not the case. So that’s okay.
Stone Payton: [00:14:44] But but you’ve got to there’s the ducks in a row, there’s the valuation, and then there’s just sometimes it takes a little while to get there, get it on the market properly and find the right buyer. Candidate. Yeah.
Dr. Phillip Hearn: [00:14:57] Yeah. So you just basically work through a process that could go, let’s be hopeful and say as short as 4 to 6 months, you could be looking at a year process. It’s I’ll give you maybe a quick correlation. It’s kind of like selling your house, but on steroids in the sense of, you know, what it may take to to get your house updated. Of course, there’s right times of season. Everybody always says spring, for instance. Right. But if you know, your market maybe is a little different than others. So there’s some intrinsic information that you have to understand. So I’ll give you a quick case in point. What I mean, part of this process, when you start to look at when you’re setting up the asking price, right, so you’re the seller and you say, hey, everybody always tells you, hey, I want $10 million and hand me $10 Million in cash as an example. I’ll leave tomorrow. Well, of course you would, because it’s $10 million in cash. But really trying to get to those valuation pieces. It’s interesting based on the time of year. So case in point, we’re now getting to the year end for 2022. So you’re going to have potentially pals, balance sheets, those types of things. So it becomes a little less of a projection than if you’re talking about this in April, May, June, July, Right. Or September. We’re still kind of on that projection schedule. But depending on how fast you file your taxes, like we look at tax returns as kind of the helpful portion. So when we talk to any of our investors, we can say, hey, we’ve seen a tax return, which kind of becomes the gospel, if you will, right? Chances are most people are not going to purposely lie on their tax return to to hurt themselves.
Dr. Phillip Hearn: [00:16:35] Right. So that B kind of becomes an ironclad piece. And so if you are just after that long projection window from, let’s say, April to September, October, and now you’re in this window where we are now into December to moving forward into tax season, how long is it going to take for your taxes? Right. So you can say, hey, we had the greatest year on record. Well, cool. Do you have your tax return? We’ll know. So there’s times of the year, right, that like kind of everything happens. And I also tell people this very quickly, think about real estate. You can get an appraisal in four different points in a year and depending on what the external environment dictates, that appraisal, maybe not 30 40% difference, but could be 5 to 10% difference as we’ve seen with the interest rate rise. Right. Same thing with your business depending on the time that you have everything together. Going out to market may be a little bit different. On what is a realistic asking price, meaning it will sell. Not saying you’ve got to give away the form, but it will sell at a quicker rate if everything else is in place versus something that sits on the market for longer. So little things to think about like that in the overarching process of either buying or selling a business.
Stone Payton: [00:17:43] Well, I’m glad I asked just to keep talking about me for a minute. It’s my favorite topic. I love it. But now I was thinking about me and Lee, like, let’s say we you know, I represented our company as pretty successful. Well, that’s you probably can’t put that on the on the contract so.
Dr. Phillip Hearn: [00:18:02] Well that actually be what part of be a goodwill right so see.
Stone Payton: [00:18:05] There you go. So we come to you and we think we got something around 10 million for example, since you use those numbers and then we get to talking and you know, you do your magic and you know, really realistically it’s it’s worth seven. But with your background and experience, if we come to you early enough, you can probably say, But you know what, guys, if you want to get it to where you where it really will be worth 10 million, here’s some things you can do over the next couple of years, right? I mean, you can you can help with some strategy and help us sort of think about things so that we are going to get the most for it. I’m thinking. Yeah.
Dr. Phillip Hearn: [00:18:41] Absolutely. And and I think that’s a very key component. So I’m glad you talked about you. So it’s worked out great. So this is a this we see this quite a bit, so let’s use that as the example. You think the business you and your partner think the business is worth $10 million and the current let’s let’s say fair market value, right, is $7 Million. But there are definitely ways and we do this quite a bit with some of our our contacts where we advise or consult on how to grow that company to a specific point or how can we help you grow to that point. There’s also strategic ways to structure the deal, right? So maybe we give you a chunk of that what you think is 10 million. We think it’s seven. But let’s try to figure out the gap of how do we fill in that gap from 7 to 10 million. That could be anything from earnout. So that could be anything from incentives, seller finance, There can be some ways to work it. So those are definitely sweeteners in the deal that allow. We like to work with business owners who, number one, are willing participants. So if we’re having this discussion and we’re talking to you and we’re saying, hey, the fair market value in terms of just straight cash or based on that kind of EBIT and multiple, everybody uses EBIT, right? So even the multiple here’s how we got to it.
Dr. Phillip Hearn: [00:19:59] Here’s what your fair market multiple is. Now we’ve got we’ve got a gap of $3 million. Some people could say, all right, you know what, I’m just going to walk away. We try to look at it and say, are you willing to be strategic to get to that 10 million? Maybe we can actually put more in your pocket depending on what we structure. So I think structure of the deal and negotiation skills is one of the main core components, I would say, of positively keeping a deal because the goal is we don’t need to fleece anybody to get a good deal, right. We can work with you. We can actually help you get to your end goal. And it may be in different ways. We may come on as as a consultant, we may come on as an advisor and have a piece of the equity. So now when you want to go back out to the marketplace and sell it for 10 million, maybe it’s actually worth 12 or 15, or maybe it is that ten and you’re comfortable with where you are. So there’s there’s some definitely different ways to attack different scenarios and strategies. But again, that’s the fun of understanding and and solving for those challenges.
Stone Payton: [00:20:58] Yeah, and you’ve probably seen other deals, participated in other deals that have similar components. And so you’re operating from an experience base that has that I think would be very helpful in those situations. I’m also learning that deal structure is not always, you know, here’s your check, here’s the keys. So like in that same scenario, you know, if they saw value in it, you know, Lee and I hanging out for a while or running a couple of the key studios for a while or I mean, you could you can build some of that stuff in there, too, right? Or financing? Absolutely.
Dr. Phillip Hearn: [00:21:28] Yeah, absolutely. So I’ll give you a quick quote from and I saw this this author so much in my marketing masters. His name was Stephen Covey. And one of my favorite quotes that I think about almost on a daily basis when doing this type of work acquisition, M&A type of work is begin with the end in mind. Why do I give you that quote? Well, if you go back to what we were talking about, when you’re in that getting to know you phase, asking one of the most simple questions to the seller is what do you want to accomplish? Right? So to some people, that means I’m going to you’re going to hand me a check, I’m going to jump in the money like. I’m Scrooge McDuck from Ducktales. Right. And I’m going to jet set to Europe. That’s it. That’s all I want to be done and done. Others will say, Look, I just don’t have the energy, let’s say, to run the business at the full capacity that it needs. But I still want to be involved because I still I see upside. I think I can help with that upside.
Dr. Phillip Hearn: [00:22:26] So those are two completely different and diverging paths, right? So asking those initial questions allows you then to come back and say, Hey, Stone, I know that you and your partner actually still want to be in the business, right? So we could try to give you all cash and then then you’ve got to worry about your taxable liabilities and all that fun stuff, right? And I’m not playing an accountant, but those are things that are there. If I hand you 10 million, how much do you all take home? Right. But how do how does this sound if we go down this route? Right. We still want you to be involved in the business. We may purchase X, Y, and Z of the equity, or we may come in and be a consultant and work to help you grow the equity in the business. All of those layers to it. But it’s asking those initial questions that seem early on might seem like throwaway questions, but they could be some of the most important questions in the process and actually get everybody to a winning solution on all sides.
Stone Payton: [00:23:20] You mentioned that you’re not playing accountant and that sort of touches on on another point, I bet you find yourself kind of quarterbacking sometimes a team of other trusted advisors who are experts in their domain to bring all this together, right?
Dr. Phillip Hearn: [00:23:36] Absolutely. So I get a chance to kind of go back to my sports day. So I played quarterback growing up in high school and then I also played point guard. So I get to either be Joe Montana or Magic Johnson in my brain, right? I get to facilitate, get people in the right spot. Let’s run the offense. Let’s do what we have to do. But all kidding aside, you’re exactly right. So case in point, as we talked about some of those trusted advisors before, so let’s say we’re buying or selling. We’re looking at those legal components, right? So we have a legal due diligence going on. We do commercial due diligence. We want to understand the background of the company. Are there any nefarious acts going on in the company, all those types of things, the financial due diligence, proof of cash, quality of earnings. So, so many people hear these terms. And it’s interesting because once you’re in the deal, it’s kind of like being in a playbook again, right? So again, I play football. If I’m running a deep pattern, my playbook might say nine pattern or not or fly or whatever. Same principles here you have subject matter experts that you can defer to and say, I understand X help me to understand how we can apply that to this scenario. Or hey, they come to you and say we’ve seen something similar, Here’s what we did. Do you think this will work for you? So having those subject matter experts, they are if you do it right, they are worth all of the money you pay them and then some. Right when you get into trouble is if you’re paying, let’s say, the wrong group, the wrong person, whatever. But if there’s as good as advertised and they do what they need to do, they’re worth every dollar for sure.
Stone Payton: [00:25:09] Well, and I’m thinking it’s worth it to me as a buyer or seller that you are helping identify the right person to to fill that role. You know, I don’t even I don’t even know that I would even know what questions to ask or how to go shop for the right type of person in a specific area to. So that seems like that would be incredibly powerful as well. So you have other irons in the fire, as my daddy would say. You also have quite a bit going on in the real estate arena. Can you speak to that briefly?
Dr. Phillip Hearn: [00:25:42] Yes, I can. So I actually started dabbling in real estate when I was 17, so almost 21 years ago now. I always called it the first deal that I did. I was about 19 or 20, somewhere around there. And I always call it the smartest, dumbest thing I ever did. When I started, it was smart because I got into the business. It was dumb because I was only good at putting holes in stuff. So for me, it it has been it has become, again, a passion play. So I like to do if you can’t tell, I like to do things that I really get into and can enjoy, right? And it’s been great because I’ve learned everything that I’ve learned in real estate. I’ve been able to translate to acquisition type work, right? So one of the things that you mentioned is those processes. So again, I’m a planner, so when my friends will call me, will say I’m a planner. So within that planning piece I see the similarities. So I’ve done anything from be a part of ground up construction projects with developers and general contractors to doing fix and flips on single and multifamily homes. I now have my broker’s license in real estate. I’ve had my salesperson’s license for years. And so it’s funny because there’s so many tools that you learn in putting a process together for a piece of real estate. If you’re doing, let’s say, a ground up, build the scheduling, the coordination. Everything else. It makes business acquisition almost easy based on that experience. So coordinating a maybe a ten person team to get a deal across the finish line and of course having to work with the seller or maybe the seller’s broker I think is almost as easier, scuse me, than working on a job site and you’ve got hundreds of contractors and you’re trying to build a 200 unit project. So there are some transferable experiences in my real estate life that I’ve been able to now use and always tweaking to make better. But I’ve been able to use that in my acquisition life. Now.
Stone Payton: [00:27:44] I’m not even sure this applies to you, but I’m going to ask it anyway because I’ve got to believe even you from time to time, you need to give yourself some space, hit the brakes, recharge, get inspired. So I’m kind of curious where you go. And I don’t necessarily mean a physical place, you know, I don’t know if it’s helping out a cause that’s dear to you or going to the mountains or how do you. Yeah, I guess that’s the right word. Kind of kind of recharge, get inspired to get back out there and do it again.
Dr. Phillip Hearn: [00:28:12] So that’s a great question. I do luckily find some time. I have friends of mine that ask me. They go, Do you sleep? So the first question is, yes, I sleep and when I go to sleep, I sleep like a baby. So thank goodness for that. So there’s a couple of things that I do to recharge. I love to stay active. So I try to get in workouts. Right now I’m at home and it’s freezing here so I can’t go out and play golf, which is another passion of mine. But I like to work out, play golf, just kind of get outside or get moving as much as I can. I love music, so if I get a chance to go to concerts or just even listening to music at home while I cook, something as simple as that helps. I am a bit of a movie dork, but I’m more of like a documentary guy. I’ll watch movies and I’ve got some favorites, of course, but but I like I like even tapping in on my time off of things that force me to kind of learn and stay sharp. So some days it’s golfing for me. And even within golfing it’s hacking or digging a hole into the earth. But that’s all right. But that’s fun. Working out is always a good thing. I can kind of let out some steam after an hour. Just trying to stay, stay consistent and stay moving. I do a bad job when I sit completely still. I don’t do that. Well, I don’t know why that’s the case. I’ve always been like that even as a kid. But staying active, staying kind of locked in on things that are interesting to me, I think always helps. So that allows me to recharge and refocus when it’s time to go back and quote unquote do work, because I don’t even feel like I’m doing work. I feel like I’m enjoying what I’m doing, whatever that is.
Stone Payton: [00:29:42] I can certainly tell that. But I do think it’s important. And it sounds like you agree that you do periodically. You need to give yourself that opportunity to sort of regroup and and circle around. Sounds like you’ve you found a way to do that. What a marvelous conversation. What is the best way for our listeners that they would like to reach out and learn more, have a conversation with you or someone on your team, begin to tap into your work. What’s the best way for them to connect with you guys?
Dr. Phillip Hearn: [00:30:10] Man Absolutely. So one way would be taking a look at our website which is mid American capital holdings within us dot com so mid American Capital Holdings dot com on the website you’ll have contact information for myself and my team shooting email over. You can use the email address of info at mid American capital holdings within us dot com. So info at mid American Capital Holdings dot com Ask questions we can set up some time, dig into different scenarios. So I love to consistently learn. I’m a bit of a dork when it comes to research and learning. So any time somebody wants to reach out and touch base more than happy to try to set some time on the calendar.
Stone Payton: [00:30:57] Well, Philip, it has been a real pleasure having you on the show this afternoon. Thank you for for sharing your insight, your perspective, your enthusiasm and your and your energy. Keep up the good work, man, and thank you for investing the time with us today.
Dr. Phillip Hearn: [00:31:12] Well, thank you, Stan. I appreciate being asked to be on and love the show. So this is something I’ve been looking forward to. So thank you so much for sharing your time.
Stone Payton: [00:31:21] My pleasure, man. All right. Until next time, this is Stone Payton for our guest today, Dr. Philip Hearn with Mid-American Capital Holdings and everyone here at the Business Radio X family saying we’ll see you again on Buy a Business near me.
