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Episode 235: Alex Bridgeman (@aebridgeman) is joined by Chris Hoffman (Chris-Hoffman).\n\nMy guest, Chris Hoffmann, is the President and CEO of Hoffmann Brothers, a home services business based in St. Louis. Hoffmann Brothers have scaled from $10 million in 2015 to over $100 million in revenue in 2023. We talk about how that journey happened, their experience building executive teams, investing in people through a training university they started for ongoing training, and investing activity for home services today.\n\nWe also talk about what perpetual non-private equity ownership enables them to do, including their unique strategy for managing cash investments and liquidity as a growing family office. This was a ton of fun for me and I hope you enjoy this conversation as well.\n\nListen weekly and follow the show on\xa0Apple Podcasts,\xa0Spotify,\xa0Google Podcasts,\xa0Stitcher,\xa0Breaker, and\xa0TuneIn.\xa0\nLearn more about Alex and Think Like an Owner at https://tlaopodcast.com/\n\nLinks:\nChris on LinkedIn\nHoffmann Brothers\nNexStar Network\n\nTopics:\n(00:00:00) - Intro\n(00:01:39) - Hoffman University\n(00:06:27) - Enabling scale and revenue growth\n(00:08:56) - Differences in PE-backed company structures\n(00:12:26) - Retention and morale-boosting tactics\n(00:15:59) - Leadership team composition\n(00:19:17) - Surfacing high-performers & evaluating management teams\n(00:26:53) - Using Search Firms to find talent\n(00:28:26) - Choosing an Executive Search firm\n(00:31:31) - Financial sponsor interest in the HVAC and Home Services market\n(00:34:16) - Reasons Consolidators are failing\n(00:36:41) - Debt, Public Equity Strategies & Fund Investing\n(00:46:01) - Goals for the family office\n(00:47:48) - Building new locations from scratch vs. acquiring existing companies\n(00:53:38) - Acquiring a school\n(00:56:53) - Changing strongly held beliefs\n(00:57:55) - Chris\u2019 favorite business