#25: Mike Truitt - What It Really Takes to Buy, Grow, and Sell a Business

In this episode, I sit down with Mike Truitt to talk about his path from inside sales to business ownership, what it looked like to buy Disney McLane with his business partner, Craig, in 2007, and how they grew and eventually sold the company.We also get into what the business actually does, how they expanded across multiple states, and what it means to lead a company through a recession.Mike shares lessons on choosing the right business partner, retaining employees, reinvesting in people, and planning an exit years before you take it. We also talk about the discipline he took from his military family, what real pressure looks like, and the advice from his dad that still guides him today: sharpen your pencil.Subscribe for more conversations like this on Pieces of Impact.00:01 Intro and why Mike’s story matters01:42 Early jobs and how he got into Disney McLane03:41 Buying the business in 2007 and selling in 202004:34 What Disney McLane actually does08:12 Taking over right before the 2008 recession10:55 Growing territory, lines, and offices13:47 Choosing the right business partner17:09 Retention, rewards, and taking care of employees23:06 What he would and wouldn’t do differently24:35 Exit strategy and grooming the next owners29:22 Reinvesting in the business and standing out33:00 Investing, side ventures, and the gas station37:23 Military background and lessons on discipline40:47 What real pressure looks like44:45 Family history and tracing the Truitt tree51:12 Rapid fire round56:05 Final wisdom