My guest today is Jeff Smith. Jeff is a serial entrepreneur who has owned a variety of businesses ranging from a literal brick and mortar business to his current endeavor Jet Dental. He has gained a lot of experience from each of his companies. However, the one constant he has built his business model on is bringing value to the customers and the industry as a whole.
We discuss what Jeff considers valuable in a business and how he keeps the balance between planning for a sale and passionately growing his business. Business should be fun and Jeff has some practical tips on how to keep it fun and still make smart business decisions.
You will learn about:
- Jeff’s entrepreneurial beginnings in the high tech industry.
- The goals he had for his first business.
- His time in the internet filtering industry.
- Why he invested in his company and why it was a good decision.
- The value of strategic planning.
- Why you need to stick to what you know.
- How Jeff tries to disrupt any industry he enters.
- Jeff’s goals for Jet Dental.
- What Jeff means when he says, “filling a hole in the market.”
- How Jet Dental has disrupted the industry.
- When to know to leave the company.
- The importance of keeping your emotions in check.
- Why you should try to keep the same advisors from deal to deal.
- Why you need to know your priorities and stick to them.
If you take anything away from this episode, it should be to plan for your exit. If you do all the work of structuring an exit plan beforehand, it is done and you don’t have to worry about anymore. Knowing your business is always ready for sale takes a lot of pressure off you and allows you to enjoy the present day-to-day fun of running a business. Also, set your priorities early on so that exit planning is easier for everyone.
Links and Resources
As CEO of Jet Dental, Smith leads a growing company dedicated to improved Oral Health for employees in business’ and organizations nationwide. We take a World Class Dental Team to the workplace making dental care more convenient and accessible to everyone in the workplace.
As CEO of Alliance Health, Jeff Smith led a growing company dedicated to helping people with chronic conditions better manage their health through VIP customer care and technology-driven solutions. Under his direction, Alliance Health has:
Smith started his career working for industry giants including Proctor and Gamble, and Toshiba. Since striking out on his own, he’s spent more than two decades starting or acquiring six companies, including Cerberian, ClearPlex and Beehive Brick and Stone, bringing them to successful exits.
Other professional highlights include several award recognitions including:
- 2013 Ernst & Young Entrepreneur of the Year (West Region)
- 2013 Ernst & Young Entrepreneur of the Year National Finalist
- 2014 Utah Business Magazine’s CEO of the Year
Alliance Health has also received several company award recognitions including:
- Inc 500 Fastest Growing Companies
- Utah Business Best Companies to Work For
- Utah Business Fast 50
Smith is committed to giving back. As Chairman of the Board for ShelterKids, he supports the nonprofit’s services for children who have experienced abuse, neglect and foster-home transition. The company also donates 1% of its Revenue to non-profits. Current donations include the Huntsman Cancer Institute, Operation Underground Railroad, and ShelterKids.
Smith lives in Draper, Utah with his wife Sandee and 4 children. An avid outdoorsman and weekend warrior, he loves to surf, ski, hunt, fly-fish, boat and golf.