Meaning of Ten:34 Getting from Here to There Our Approach Our Experience Set Why We’re Different
We are often asked why the name Ten:34 Partners. It reflects our admiration and respect for small business owners. Here’s the backstory.
At 10:35 a.m. on December 17, 1903, the Wright Brothers successfully conquered flight at Kitty Hawk. This was not the culmination of their careers but another tipping point in a series of small business successes that began in 1890 when Wilbur joined Orville in his printing business. Next, in 1894, to supplement their income, the Wright brothers opened a bicycle shop to repair and sell bicycles. They pivoted again in 1896 and began making their own bicycles. It was around this time that their entrepreneurial drive turned to aviation and led to the 1903 flight.
Imagine if you were Orville or Wilbur at Ten:34 a.m., a minute before take-off, what might you have been thinking? Picture Orville about ready to take flight: was he concerned about the risk or excited about the possibilities? Was Wilbur concerned for his brother’s health or focused on learning from this next attempt at achieving their goal?
Most business owners we know can relate to these emotions and challenges, and to us, this story is a metaphor for the many business owners we know. They’re motivated, focused and passionate about their business. They are inspired by what may be and are looking for ways to take that next step.
Ten:34 Partners may be a key to helping your business take that next step. The Wright Brothers found the key to flight by adding the mechanic, Charlie Taylor, to the team. He had the skillset to build an engine that was light enough and powerful enough to allow flight to happen. Might Ten:34 be your Charlie Taylor — supplementing your business acumen with our skillset to get to that next point in accomplishing your objectives?
Business owners are short on resources. They are focused on day-to-day operations and customers. It’s not easy to find the time and know-how to realize your vision. And, it’s not easy to find that right investment partner who will internalize your vision as their own. We will only partner with a business if there is strong alignment between your vision for the business and our vision. With that as the base, much can be accomplished as we provide the extra resources and committed experts that you need. We’d love to get to know you and for you to get to know us to see if we are the right partners for each other.
Focus on increasing top line 20% and margins 2-3% during Year 1
Augment current marketing and financial efforts with Ten:34 holding company assets
Create partnership dynamic that leads to creation and implementation of the Company’s strategic vision to meet our aligned objectives
Who knows, but we sure hope we can be what you need. Only time will tell. Here’s our thought process on whether a partnership with us makes sense:
There will always be similarities and differences in viewpoint. The key is whether we’re getting to the answers that you and Ten:34 feel good about when we work together. If so, that’s a good basis for a strong partnership. What’s important to you in selecting a partner? Let’s talk about it.
We’ve been involved in thinking through and implementing strategy at hundreds of businesses. We have ideas and perspectives, but we don’t have to be the decision-makers. You will always know more about your business than we ever will, and the collaboration of information, ideas, and decision-making is critical to the ongoing business.
We are financially astute and understand the debt and equity markets and know how to use those resources for the benefit of your business. We have been involved in hundreds of commercial bank and non-bank debt transactions and understand the best ways to raise money for growth initiatives and acquisitions.
People are the most valuable asset at your company, and your team is critical to the success of the business. We’ve had considerable experience and achievement recruiting and, when the time is right, look forward to taking an active role with you in the hiring process.
We have proven expertise at strategically considering the characteristics of the companies that would be best to purchase. We then will develop target lists based on those characteristics and work with you to meet and cultivate the ownership of those companies resulting in successful mergers. We have also sold many businesses and thoroughly understand that process. Your business will be fully ready when it’s time to sell, leading to the right exit for you and your employees.
Typical Private Equity Firm
Typical funds expect payback in 3-5 years, creating extreme pressure and short-term decision-making
Ten 34 Approach
Utilize patient, nimble capital focused on long-term decision-making and steady growth
Typical Private Equity Firm
A diversified portfolio creates initial focus then attention to portfolio companies only when problems arise
Ten 34 Approach
Invest in a select number of businesses (3-5 typically) so you and your company will always be our focus
Typical Private Equity Firm
Responsibilities are divided between a sales team, execution team, and monitoring team
Ten 34 Approach
Ken and Justin are the sales, execution, and monitoring team and are available at all times; we’re focused on collaboration — not command and control
Typical Private Equity Firm
Executives are encouraged to work together but only incentivized to focus on their business
Ten 34 Approach
We create a holding company structure and grant equity interests to key executives providing economic opportunity in all Ten:34 holdings
© Copyright 2024 Ten:34 Partners. All rights reserved. | Sitemap