00:30:33 · Steve Stagner
I'm not saying you can't do it. I'm just saying that to do it well and effectively it can be better. So what we provide being the Intel Inside is we provide access to all of those curated best practices, curated technologies, curated learning and development. We're launching a learning and development program that we're curating which will help the next generation leaders. And so the value proposition for a small to mid sized firm is, okay, I've hit a wall, so now for me to get over that wall, maybe it's time to partner with private equity. And then the choice that you should make is the best choice for you and there's lots of options out there and I'm not going to say that we're the best or whatever, I'm not going to talk about the other guys. What we do, which I think is unique and it's the most unique thing that I've seen and it's why I actually migrated from more traditional private equity to what I would call our partner equity is we do something that's nuance different in the sense that when we partner with you Miguel, your structure is in your firm. Your incentives are in your firm. So you get access to our platform, success, talent, tools and technology, and even access to kind of our value creation with a premium multiple, like later in life. So you get some liquidity, the events that you could never get without being a part of the platform, but you get to keep your local culture. And then what's different is not only do you get to keep it, but you're not put inside the whole platform so that you don't have this kind of drifting mindset that well, if you don't perform, then the other guys can perform. You basically, if you believe in your success, then we are gonna invest in your success and you get distributions on your own firm just like you do today and you get to realize the profit of your firm. So that's what's uniquely different is that you're not kind of nominalized inside a broader program. And what I have found is we deliver playbooks not rule books and in a traditional model they come in and they deliver kind of like, well here's how it's going to be.
00:32:41 · Steve Stagner, Miguel Armaza
And we deliver suggestions, you know playbooks that you can choose to with conscious capitalism you can choose to join and the data, the onus is on me to provide the data to you Miguel to say like this plan works and I've tested and I've proven it and that's what I think is gonna make, that's what's proven in this model. We've done this model on a couple other platforms, Jake and Frank have and they've done it super successfully. And I've seen it both ways and I just think it's probably the most freshly unique model. It's not for everyone, but if you care about your culture and your brand and the ethos of entrepreneurialism then we're probably a good fit. [00:33:22] S1: Something I like about your model and then this model in general is the fact that although this new AILM technologies are amazing, at an enterprise scale, it's not usually plug and play, Right? You need a team or CTO behind it to kind of customize and bring it back to your specific use case. Right? It sounds like that's very important to you.
00:33:22 · Miguel Armaza, Steve Stagner
[00:33:22] S1: Something I like about your model and then this model in general is the fact that although this new AILM technologies are amazing, at an enterprise scale, it's not usually plug and play, Right? You need a team or CTO behind it to kind of customize and bring it back to your specific use case. Right? It sounds like that's very important to you. [00:33:50] S0: Yeah, not only is it important, but I've invested in an integration team that is bespokely for integration. So I have full integration team. I call it my big plan. What do we do, Miguel? We buy firms, we integrate firms and we grow firms. So the BD team does the buying and then the baton is handed off to the integration team. So before we get involved in anything else, I have a dedicated integration team that can kind of be your Sherpa and help you through these integrations in a very methodical and bespoke way. So that we're focused on what your needs are because these firms have very different cultures and very different needs. But more importantly, they're on very different maturity curves of technology and of leadership and all of what needs to be integrated. So we're chasing a target operating model. And the goal is to come in and say, Hey, Miguel, you are here, but if you would look at these tools, maybe you could get to there. And then you do that. And then the grow phase, we have support for you to grow your firms with cross selling, with technology and other integrated tools. But we're making a huge investment in specifically integration.
00:33:50 · Steve Stagner, Miguel Armaza
[00:33:50] S0: Yeah, not only is it important, but I've invested in an integration team that is bespokely for integration. So I have full integration team. I call it my big plan. What do we do, Miguel? We buy firms, we integrate firms and we grow firms. So the BD team does the buying and then the baton is handed off to the integration team. So before we get involved in anything else, I have a dedicated integration team that can kind of be your Sherpa and help you through these integrations in a very methodical and bespoke way. So that we're focused on what your needs are because these firms have very different cultures and very different needs. But more importantly, they're on very different maturity curves of technology and of leadership and all of what needs to be integrated. So we're chasing a target operating model. And the goal is to come in and say, Hey, Miguel, you are here, but if you would look at these tools, maybe you could get to there. And then you do that. And then the grow phase, we have support for you to grow your firms with cross selling, with technology and other integrated tools. But we're making a huge investment in specifically integration. [00:34:58] S1: Phenomenal. Steve, one last question. I don't know if you're a big reader, but if you are, are there any books or a book that you find yourself recommending often?
00:34:58 · Miguel Armaza, Steve Stagner
[00:34:58] S1: Phenomenal. Steve, one last question. I don't know if you're a big reader, but if you are, are there any books or a book that you find yourself recommending often? [00:35:10] S0: Yes, I am a big reader. I actually have a specific suggested reading list in my computer at all times to give. I would say there's a couple of books that I really love. The first one is Extreme Ownership by Leif Babin and Jocko Willink. And I think that it's a very good foundational book. And then if you couple that with The Founder's Mentality, those two books really nail down just the basics of leadership, which I think are very important. And then when it comes to teams, I'm just a big Patrick Lencioni fan, Starting with the five dysfunctions of a team and then working through death by meeting and all of the Lencioni. I can't get enough of Lencioni. He's just amazing. So those would be some directions I would send people. [00:35:57] S1: All right. Well, Steve, thanks for stopping by and educating all of us. I think there's a lot to learn, not just about AI and technology, but about leadership that you've shared. So I'm gonna have to relisten a couple times.
00:35:57 · Miguel Armaza, Steve Stagner
[00:35:57] S1: All right. Well, Steve, thanks for stopping by and educating all of us. I think there's a lot to learn, not just about AI and technology, but about leadership that you've shared. So I'm gonna have to relisten a couple times. [00:36:14] S0: Yeah, please do. You can use anything that we have, we're all sharing. And I think that's what is beautiful about private equity entering this space is there's going to be a lot of really good lessons that's going to make all of the whole industry better. And so I think that everyone's going to really get better and learn a lot more from each other. And I think it's going to be exciting chapter for the industry. I've seen that happen in other industries. So it's going be exciting. [00:36:39] S1: All right. Thank you, Steve. [00:36:40] S0: Thank you, Miguel. Let's stay in touch. Thanks for tuning in. [00:36:53] S1: I hope you enjoyed this great episode with Steve from Crete Professionals Alliance. If you want more interviews, make sure to subscribe, follow, and leave a review on Apple Podcasts, Spotify, or whenever you get your shows. It helps and means a lot. And if you have any suggestions or thoughts about the show, just drop me a line on Twitter or LinkedIn. Signing off till next week. I'm your host, Miguel Armaza. The Fintech Leaders podcast is for informational purposes only and should not be considered financial or investment advice.