EP 6: Paws and Profits: Paula Mosteller’s Entrepreneurial Safari

Picture this: A passionate entrepreneur embarks on a quest to turn a brilliant concept into a thriving enterprise. The initial stages brim with excitement and promise, as dreams begin to materialize into tangible successes. However, as the voyage unfolds, unforeseen trials surface, challenging the resilience of the visionary steering the ship. In this episode of the BizMafia podcast, we sit down with Paula Mosteller, the former co-founder of PetExec, a software platform for pet care service providers. From the inception of a groundbreaking idea to the eventual sale of PetExec to Mars Petcare, Paula's insights resonate with the highs and lows that accompany building and relinquishing a business. We've delved into the strategic intricacies of customer service, pricing, and marketing, alongside the emotional landscape of being a business owner.  Paula’s experiences serve as a powerful reminder that every twist in the entrepreneurial journey is an opportunity to learn, adapt, and ultimately thrive. It offers a wealth of wisdom for aspiring entrepreneurs, covering everything from navigating building a business from the ground up all the way to the meticulous process of a sale event to a large corporation. If you're an aspiring entrepreneur or simply fascinated by the behind-the-scenes of building and selling a business, this episode is a must-listen.  What We Discuss [00:00:35] - Meet Paula Mosteller [00:01:12] - The business journey of PetExec [00:12:12] - Unpacking the marriage analogy [00:23:13] - The high-level sales strategy [00:37:26] - Utilizing customers as “soundboards” [00:47:44] - Why accepting money means working for the investor [00:48:09] - The importance of having a great lawyer for your business [00:49:12] - Scaling an organization and hiring the first employee [00:59:57] - The ideal mindset of a business owner [01:07:44] - The process of selling the business [01:13:37] - The importance of advocating for oneself [01:20:13] - The value of having a rockstar legal and financial team [01:23:21] - Understanding the financial aspects of selling a business [01:24:22] - The due diligence process and proving business practices [01:41:58] - Paula's advice to new entrepreneurs experiencing doubts Notable Quotes [00:10:32] “Trust in a partner is extremely important. I always knew I could trust him and he always knew he could trust me.” - Paula Mosteller [00:12:39] “We felt such a family connection with our community. These are the people who entrusted us because it's running their entire business. This is their livelihood. For us this is very important. They rely on us and they need us to give our very best to them, so it wasn't something we took lightly ever.” - Paula Mosteller [00:42:25] “If you're doing the right thing, the numbers are going to happen.” - Paula Mosteller [00:57:29] “Treat your employees like you would family, because they're doing a lot of hard work for you.”- Paula Mosteller Our Guest Paula Mosteller, a distinguished entrepreneur and former co-founder of PetExec, stands as a trailblazer in the realm of technology-driven pet care services in the United States. Paula spearheaded the scaling and successful sale of PetExec to Mars Petcare. PetExec is a cutting-edge web-based software platform tailored for pet care service providers.  Resources and Links PetExec website: https://www.petexec.net/ Connect with Paula Mosteller on LinkedIn: https://www.linkedin.com/in/paula-mosteller-36390711/ BizMafia Website: https://www.bizmafia.net Follow the BizMafia podcast On YouTube: https://www.youtube.com/channel/UCd4z3Xk-iOT5zt62H4_juXw On LinkedIn: https://www.linkedin.com/company/bizmafia On Instagram: https://instagram.com/thebizmafia Connect with Pat Linden on LinkedIn: https://www.linkedin.com/in/pat-linden Connect with Bryan Taylor on LinkedIn: https://www.linkedin.com/in/bryan-taylor-0429008