Tied At The Hip
November 4, 2015 |
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Rick Day built Daycom Systems into a $26 million dollar business over a 17-year run. Daycom sold phone systems but the company had a problem: it had become too reliant on one supplier.
Daycom sold phone systems but the company had a problem: it had become too reliant on one supplier in a business where the technology was changing fast. Motivated by the fear of becoming obsolete, Day decided to assemble an advisory board to help him prepare the business to sell. The board helped him to see his business through the eyes of a potential buyer and exposed a number of things that Day needed to fix.
Our guest
Rick founded, built, and sold Daycom Systems, a telecommunications VAR (value-added reseller) and Avaya-authorized dealer based in San Diego. The company, with revenues of $26 million, was the largest Avaya VAR on the West Coast and the only one to have both US and Mexican nationwide authorizations. Daycom was acquired by Carousel Industries (Exeter, RI) in April 2009. After the sale of Daycom, Rick co-founded, serves as CFO, and is a Director at South Coast Yachts, the Beneteau authorized dealer in San Diego. He is also the founder of BusinessbyDay.com, a business coaching firm, and Steadfast Finance, a California-licensed financial lender. Rick is a Managing Partner in Phenix Salon Suites and is a Limited Partner in Moore Venture Partners.Related to this topic
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