Scale Business Growth and Personal Freedom with Richard Manders

In this episode of the DealQuest Podcast, I’m thrilled to welcome Richard Manders, a seasoned entrepreneur and business coach at Freescale. Richard’s passion lies in helping CEOs and their leadership teams unlock both business growth and personal freedom. Drawing from his experience as a serial entrepreneur and coach to over 50 companies, Richard has a wealth of knowledge to share about scaling with purpose and overcoming the challenges of leadership.

Richard’s approach combines strategic insight with actionable steps, making him a go-to resource for business leaders feeling stuck, overwhelmed, or frustrated. In this episode, we delve into his journey, his methods for achieving transformative growth, and his commitment to empowering leaders to thrive both professionally and personally. Whether you're navigating obstacles in your business or looking to optimize your leadership, Richard’s wisdom will leave you inspired and ready to take action.

PLAN FOR THE INEVITABLE BUMPS IN THE ROAD

One of the biggest lessons Richard Manders learned in his career is the importance of planning for tough times—especially when everything seems to be going well. He shared how his company’s capital partner, Riverside, introduced them to something called "gray-to-black" disaster planning. Basically, this involved creating detailed plans for different levels of potential revenue decline, ranging from a small 10% dip (light gray) to a complete revenue shutdown (black).

At first, Richard didn’t see the point. He preferred focusing on boosting sales, not worrying about worst-case scenarios. But when the 2008 recession hit and their business faced serious challenges, those plans became a lifesaver. Unlike in 2001, when the panic after 9/11 caught them off guard, this time they had a solid game plan. They knew exactly what steps to take as their revenue dropped, from cutting costs to keeping their best people on board.

Thanks to this proactive planning, the company not only survived the tough times but came out even stronger, ready to take off when the economy rebounded in 2009. Richard’s experience proves a crucial point for businesses: don’t just ride the wave of success. Use those good times to plan ahead. Having a strategy in place for unexpected crises can make all the difference when things take a turn for the worse.


WHY PICKING THE RIGHT CAPITAL PARTNER IS CRUCIAL

Choosing the right capital partner is about more than just the money—they need to bring value beyond the check. When Richard and his co-founder decided to sell 75% of their business, they had several bidders, some offering higher financial deals. But they went with Riverside because they knew the firm had the experience, a solid track record, and most importantly, the ability to offer strategic support.

Riverside showed their worth by providing not just capital, but a comprehensive playbook for success. They hosted training programs for the executive team, gave them access to valuable networking opportunities, and guided them in making data-driven decisions. One of the most impactful moves was Riverside’s insistence on preparing disaster plans before anything went wrong. At the time, Richard and his team were skeptical about the need, but when the 2008 recession hit, those plans helped them navigate through the crisis smoothly.

This experience shows that the right partner can add more value than just a financial offer. It’s about aligning with someone who supports your goals and guides you through challenges, ensuring long-term growth and stability.

ADAPT ROLES TO STRENGTHS FOR LEADERSHIP EFFECTIVENESS

In the early days of their acquisitions, Richard and his co-CEO realized their shared leadership model wasn’t working as expected. Having two leaders involved in every decision caused confusion within their team and made it unclear who to go to for guidance. Richard saw that the CEO role wasn’t playing to his strengths, so he made a change. Instead of sticking with the CEO title, he shifted to the role of Corporate Development (Corp Dev) lead, where he could focus on what he was really good at—building relationships, attending conferences, and spotting new business opportunities.

This move made a huge difference. By aligning his role with his strengths, Richard was able to make a bigger impact and help drive the company's growth. The lesson here? Leaders should know their strengths and align their roles with what they do best. When you focus on what you're great at, you're more likely to succeed and help your organization thrive.

WHY DUE DILLIGENCE CAN'T BE SKIPPED

Richard almost ran into trouble during his first acquisition because he didn’t do enough research. The company they were looking at was an ESOP, where employees owned it. Initially, the owner told Richard the company was already “sold” to the employees. But after advice from his partners, Richard revisited the deal, discovering that the company was financially struggling—making it a potentially good investment.

However, Richard missed a key detail: the timing. The owner had recently shared inaccurate financials with the employees, leading them to believe the company was in better shape than it really was. When Richard’s team took over, the employees were angry.

This experience taught Richard that due diligence is more than just financials—it’s crucial to understand the full picture, including employee reactions. A little more research could’ve saved him a lot of trouble.

CREATE A VISION FOR LIFE AFTER YOUR EXIT

Richard Manders suggests creating a vivid vision for your life after selling your business. Instead of only focusing on the financial aspect, he recommends writing a letter to yourself from the future, imagining your ideal life—where you live, who you’re with, and what brings you happiness. This vision helps guide your decisions now, keeping you aligned with your long-term goals. If you get distracted by new opportunities that don’t match your future, your vision can serve as a reminder to stay focused on what really matters.

HAVE SOMEONE TO HOLD YU ACCOUNTABLE

As an entrepreneur, it’s easy to get distracted by new ideas. Richard Manders credits his business partner, Wayne, for keeping him grounded by asking tough questions like: "What are we not going to do?" and "Who's going to execute this?"

These questions made Richard think twice about each idea, ensuring it aligned with the business’s goals and resources. Having someone to hold you accountable is crucial. Without it, you risk losing focus and chasing every new opportunity. A trusted partner or mentor can help you stay on track with your long-term vision.

RECOGNIZE THE RIPPLE EFFECTS OF EVERY BUSINESS DECISION

Every business decision can have a bigger impact than you might realize—often in ways that aren’t immediately obvious. Even small changes, like adding a new button or feature, can create a ripple effect across different parts of your company.

Richard Manders shared an example: when they added a new feature to their software, it wasn’t just about writing the code. It involved the product team, engineering, customer success, sales, marketing, and even finance! This one decision triggered a whole series of tasks that required coordination across the entire company.

The takeaway? No decision happens in a vacuum. As your business grows, the ripple effects of changes become even bigger. It’s important to be mindful of what a change will require and make sure you have the right resources and time in place to manage it. This helps avoid overwhelming your teams and ensures smoother transitions.

THE POWER OF FREEDOM IN BUSINESS AND LIFE

Richard Manders emphasizes the importance of freedom—both financial and personal— in entrepreneurship. Growing up in a blue-collar neighborhood, he craved more. His breakthrough came when he saw a successful sales professional with the freedom to set their schedule, travel, and live on their terms. Inspired, he dove into entrepreneurship to gain control over his time and finances.

For Richard, true success isn’t just about wealth—it’s about living authentically and aligning your business with your values. He now helps other entrepreneurs achieve that same freedom, believing that real success comes from having the autonomy to shape both your business and life.

ADDRESS THE RESOURCE GAP FOR MID-SIZED BUSINESSES

Richard Manders highlights a critical gap in resources for businesses making between $10 million and $250 million in revenue. While startups have access to incubators and large corporations can tap into top-tier consultants, mid-sized businesses often struggle without the right support. These businesses are growing quickly but don’t yet have the resources of big companies, which makes scaling a unique challenge.

Richard noticed this gap and focused on helping these businesses navigate their growth. His goal? To offer the tailored support they need to scale effectively and gain the freedom to lead in their industries. For entrepreneurs, this lesson is a goldmine. By identifying underserved areas, like mid-sized businesses, you can step in with your expertise to fill the gap and create solutions that drive success for others—and for yourself.


Tune in to this episode to hear Richard Manders share his strategies for planning during uncertain times, aligning leadership roles with strengths, and creating freedom in both business and life.

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Listen to the Full DealQuest Podcast Episode Here
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FOR MORE ON RICHARD MANDERS:
https://www.linkedin.com/in/richard-manders-3879846/
https://freescalecoaching.com/


FOR MORE ON COREY KUPFER
Corey Kupfer's LinkedIn
Corey Kupfer's Website

Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.

Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!