Successful Business Acquisition with Davis Lunsford

In this episode of The Exceptional Business Podcast, we dive deep into the world of business acquisition and leadership with Davis Lunsford, a seasoned entrepreneur with a passion for serving others in the marketplace. Davis is the owner of Hay Creek, a well-plugging business in the oil and gas industry, and he shares his journey from being an employee in a Fortune 500 company to owning and leading a business that aligns with his personal and professional values.

The Journey to Business Acquisition

Davis begins by sharing his personal and professional motivations for pursuing business acquisition. He talks about the importance of integrity—living consistent with your priorities—and how this principle guided him and his wife, Faith, in creating their “Lunsford Life of Meaning Manifesto.” This manifesto helped them identify what was truly important in their lives and careers, leading Davis to leave his job in upstream oil and gas for a business that offered more geographical flexibility and ownership.

Choosing the Right Business

Davis delves into the process of selecting a business to acquire, emphasizing the importance of understanding both the macro and microeconomics of the industry. He shares valuable insights on stress-testing business scenarios to identify vulnerabilities and ensure robust economics. Davis also highlights the significance of finding a business that aligns with your personal values and long-term goals.

The Onboarding Process

Transitioning into a new business can be challenging, and Davis shares his experiences and lessons learned during the onboarding process. He emphasizes the importance of having integrity in leadership and understanding that different leaders have different styles. Davis shares how he navigated the transition by focusing on creating systems, defining job roles, and managing cash flow effectively.

Tools and Resources for Success

Throughout the episode, Davis mentions several tools and resources that have been instrumental in his journey. From understanding unit economics to leveraging books like “Creativity Inc.” and “The Great Game of Business,” Davis provides actionable insights for aspiring business owners. He also underscores the importance of having a coach with shared values but different strengths to guide you on your journey.

Advice for Aspiring Entrepreneurs

In a reflective moment, Davis offers advice to his 20-year-old self, highlighting the importance of finding a good coach and relentlessly asking and answering questions. He encourages listeners to define their vision concretely, pursue it passionately, and hold it loosely, trusting in the journey and learning from every experience.

Conclusion

This episode is packed with practical advice and inspiring insights for anyone considering a business acquisition or seeking to improve their leadership skills. Davis Lunsford’s journey is a testament to the power of clarity, integrity, and intentionality in both personal and professional life. For a deeper dive into these topics and to hear more from Davis, listen to the full episode of The Exceptional Business Podcast. Don’t miss out on the valuable lessons and strategies shared in this engaging conversation. Tune in now!