Thor Conklin on Buying a Company with $1M of Fake Inventory

Thor Conklin is an entrepreneur, profitability consultant, and host of the Peak Performers Podcast.  2018 marks his eighteenth year as an entrepreneur.  The first company Thor created was a global risk management consulting firm that served the private equity community.  His top 15 clients had a combined revenue of $12.7 billion and operated in over 100 countries worldwide. He has started, bought, and sold several multi-million dollar businesses making him a sought after cross-industrial resource for entrepreneurs and executives in all stages of business. Through his consulting firm, Peak Performance Group, he teaches the tools, tips, tricks, psychology and strategies necessary to be a Peak Performer.   We begin the interview with Thor’s first job as a caddy. He explains how caddying connected him with highly successful people, helping launch his entrepreneurial career. Thor shares his worst entrepreneurial moment in 2008, when he bought a business with what turned out to be fraudulent financial statements and profit margins. We discuss how he missed the red flags and the one thing that he could have done to avert that disaster. Thor also shares his strategy for daily and annual planning, and how he sets goals that actually stick.   If you’d like to get in touch with Thor, email him at [email protected] with your biggest business struggle, 50 words or less, he will send you a personalized email with four steps that will eliminate or reduce that issue.