{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Growth Without Referrals","title":"Episode 41 - Playing the Long Game: Building Value in Industrial Businesses with Kevin Salquist","html":"","width":"100%","height":180,"duration":1339,"description":"What does it take to create lasting value in an industrial or manufacturing business — without chasing quick wins or financial engineering?\nIn this episode of Growth Without Referrals, Mark Ferguson sits down with Kevin Salquist of Big 7 Ventures to explore how a long-term, operator-focused approach can unlock growth in overlooked lower-middle-market businesses.\nKevin's career began as a market maker on the Pacific Stock Exchange before taking him through prime brokerage and ultimately into private equity. Today, he helps Big 7 Ventures identify, acquire, and grow niche industrial and manufacturing companies.\nFor Kevin, successful investing starts with much more than a spreadsheet.\nIt means buying the right business at the right price, avoiding excessive leverage, understanding the people already inside the company, and getting into the trenches before deciding what needs to change.\nKevin and Mark discuss why relationships remain critical in traditional industries, how Big 7 identifies hidden potential in mature family-owned businesses, and why some companies that appear stagnant may simply need renewed leadership, investment, and operational discipline.\nThey also explore how Big 7 approaches growth after an acquisition — from improving margins and modernizing sales and marketing to entering new markets, rewarding employees for creating value, and using technology and AI to improve operational efficiency.\nIn this episode, you'll hear about:\nKevin's journey from the Pacific Stock Exchange to private equity\nWhy Big 7 Ventures focuses on niche industrial and manufacturing businesses\nHow to recognize hidden value in mature, family-owned companies\nWhy buying at the right price and avoiding over-leverage matters\nThe importance of listening before changing an acquired business\nHow employee buy-in can drive operational improvement\nWhy face-to-face relationships still matter in industrial markets\nHow Big 7 thinks about short-term returns versus long-term value creation...","thumbnail_url":"https://img.transistorcdn.com/NYwb67S6-1TluJIm7IWT5DNldCEIlXpN2yNDR9nHiiE/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8zODM2/ZWZlYjNmZjljYjZk/MTZhNzE0ZWFjY2Ri/MDkxOC5qcGVn.webp","thumbnail_width":300,"thumbnail_height":300}