Episode #790
From $40K Rescue to $10M+ Exit: How Murray Kent Built Conex to 35 Employees, Reduced Customer Risk, and Sold for Nearly 6.5× EBITDA—Plus the Mindset, Open-Book Culture & "Built to Sell" Strategy Behind It. (Episode 790 - Murray Kent)
In this episode of the Grow A Small Business Podcast host Troy Trewin interviews Murray Kent shares how he turned a $40,000 acquisition of Con-ex into a $10M+ business with 35 employees and consistent 15–20% annual growth. He reveals how customer diversification, niche marketing, financial discipline, and an open-book management culture helped drive that growth. Murray explains why reducing owner dependency and building a strong team ultimately increased Conex's value and helped him secure a sale at nearly 6.5× EBITDA. He also discusses managing stress, maintaining work-life balance, and helping employees break through their own limitations. Finally, Murray shares his advice for business owners thinking about their exit, including why you should start building Conex to sell from day one. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here . Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? Murray Kent shares that the hardest part of growing a small business is managing your own expectations and stress. He explains that stress is a constant part of business ownership, whether it comes from people, finances, or sales. The key is learning to manage it, stay healthy, and remind yourself that difficult periods will eventually pass. What's your favorite business book that has helped you the most? Murray Kent shares that his favorite business book is Built to Sell, which had a major influence on how he approached building his businesses. He says its focus on creating a business with the eventual exit in mind shaped his thinking throughout his journey. Murray believes this approach leads to a stronger, more attractive business for a future buyer. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Murray Kent shares that he regularly learns from podcasts and books featuring the experiences of other business owners. He recommends Built to Sell Radio and Mark Bouris's Straight Talk, along with Money Café and The Contrarians. Murray values hearing real business stories because they reveal what worked, what didn't, and lessons he can apply to his own experience. What tool or resource would you recommend to grow a small business? Murray Kent shares that the most valuable resource for growing a small business is becoming a better coach, encourager, and inspirer of people. He believes business owners should learn how to bring out the best in their team and help employees feel like owners. By developing and empowering people, leaders can create stronger engagement and drive sustainable business growth. What advice would you give yourself on day one of starting out in business? Murray Kent shares that he would remind himself that everything is going to be okay and encourage himself to take the leap. He believes it is important to consider the worst that could happen, but also think about the regret of not taking the opportunity. His advice is to have a plan, take the risk, and trust yourself to make it work. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Success is having the freedom to live life on your own terms — Murray Kent Build a business that can grow without being dependent on you — Murray Kent If you want to take a leap, think about the worst that can happen, but also think about what you might regret if you do not do it — Murray Kent
