What does it take to grow a family business into a $200 million company? And what do you learn when it's time to sell?
In this episode of the Leadership Capacity Show, host Hilani Ellis sits down with Kory Mitchell, CEO of Iconic Founders Group, whose journey began at age 14 working in his father's asbestos abatement business in Sioux City, Iowa.
Years later, Kory and his brother purchased the business from their father, expanded into new markets, and grew through mergers and acquisitions. Kory eventually became CEO of EIS Holdings, a national environmental services platform that reached approximately $200 million in annual revenue after 13 acquisitions.
But some of Kory's biggest leadership lessons came after the sale.
In this conversation, Kory shares what he would do differently, why integrating businesses and their cultures is one of the hardest parts of acquisitions, and what leaders need to understand about guiding people through change.
We also explore the unexpected challenges following a business exit, the isolation many founders experience as their companies grow, and how Kory's definition of success has evolved.
Today, through Iconic Founders Group, Kory helps business owners navigate growth, acquisitions, and exits, drawing on the lessons he learned firsthand.
Whether you're building a business, leading a growing team, considering acquisitions, or preparing for your next chapter, this conversation offers valuable perspective from someone who has experienced each stage.
Kory Mitchell is CEO of Iconic Founders Group and host of The Turn: Blue Collar to Billions.
New episodes every Tuesday.
Chapters
00:00 - Preview
01:00 - Meet Kory Mitchell
01:55 - Starting in the Family Business at 14
04:16 - Buying the Business From His Father
05:42 - Paying His Father Off in Under Two Years
07:23 - Mergers, Acquisitions & Private Equity
08:30 - Selling the Business and Growing to $200M
09:21 - What Kory Would Do Differently
12:28 - Three Mitchells Retired From One Business
13:37 - Leading People Through Change
16:25 - Why "We Won't Change a Thing" Is Never True
19:10 - The Biggest Lessons Came After the Sale
20:35 - Building Iconic Founders Group
25:47 - Why Founders Need Someone to Talk To
27:55 - Redefining Success
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CONNECT WITH KORY MITCHELL
Iconic Founders Group: https://iconicfounders.com/
The Turn: Blue Collar to Billions podcast: https://www.theturnpodcast.com/