oday's guest loves the paving business.

Which is saying a lot, given his previous life as a member of SEAL Team Six.

‍When Eric Donahue retired from his career as a Navy Seal, it was recommended by other vets that he buy a business.

Flash forward, and Eric acquired a $4.1-million revenue, 25-year-old paving business in Hampton Roads.

In his first year as owner, he grew the revenue to just shy of $6m — 40% in his first year.

We unpack how he's done that, including getting clever around filling his guys' schedules, subbing related work rather than referring it out, and bringing in new tech (tablets) and old tech (whiteboards).

Culture change was also key to his year-one growth, as was some good ol' fashioned luck.

‍Other segments to listen for:

Eric bought the business not with SBA debt, but a conventional loan.

Now before you get too excited, yes, there was still a personal guarantee.

‍But there's a good tip here about getting a loan from the same bank that your acquisition does business; the bankers there are likely to want to keep you as a customer.

Also, scaling. To deliver a paving job, you need trucks, three pieces of heavy machinery, and about 8 guys.

So when Eric hits capacity, will he have to make 8 hires and a very large capex spend all at once to grow? Not quite. Listen for how he spreads out that spend.

OK, here he is, former member of SEAL Team Six, now owner of Peninsula Paving, Eric Donahue.