About this episode
If you’re feeling exhausted from running your company, you can take a little solace from Michael G. Dash.
Dash built Parallel HR Solutions, a staffing company, up to around $5 million in revenue with clients like Overstock.com, Goldman Sachs, and Discovery Channel. When the relationship with his partner broke down, he decided to buy her out. The negotiation got ugly and ended up in a six-year lawsuit costing Dash more than 1 million dollars in legal fees. His former partner decided to set up a competing business. All the while, Dash struggled with addictions ranging from gambling to cocaine.
Dash was a mess. He was exhausted and emotionally drained, so when a friend offered to buy Dash’s business for $750,000 (around three times the profit he was pulling out), he jumped at the chance to get out.
Dash’s story is a cautionary one of a founder who emphasized growth at the expense of just about anything else. Dash has turned his life around and now lives in Mexico. He has had time to reflect on his mistakes. In this episode, Dash reveals:
- How he let his ego and addiction take over his decision making.
- The importance of recurring revenue over one-off sales.
- What destroyed his business partnership and what he now advises other partners to be aware of.
- How he sold a struggling company.
- Why he would never sell a business to a friend.
Running a business during a global pandemic is exhausting, and, like Dash, you may get to a point where you want out at any cost. When that happens, reach out to a Certified Value Builder™ who can walk you through your options to get out quickly or build back the value you’ve lost.
About Our Guest
MICHAEL G. DASH is an entrepreneur, best-selling author of Chasing The High, business coach, recovering addict, speaker, and philanthropist. He founded the F.A.T.E. series (From Addict to Entrepreneur) published on Thrive Global & Medium and MD Coaching and Mentoring where he works with entrepreneurs helping them streamline their businesses while increasing profits and helping them find clarity, consistency, and connection allowing them to step into the true leader they were meant to be. He is the co-founder of the Activated.Life, a social movement focused on inspiring a culture of positivity, authenticity, passion, empathy, and resilience while giving back to others. Michael is an avid volunteer, fundraiser, and mentor, and is dedicated to bringing positive change to leaders of all kinds.
You can reach Michael via his website at www.michaelgdash.com where you can join his weekly newsletters and get the first two chapters of his best-selling Amazon book Chasing The High free at https://www.michaelgdash.com/book. His audiobook can be found on Audible at: https://shorturl.at/efqt4.