Key Points From the Interview
ow capex, like recurring revenue, is one of those boxes that searchers hope to check.
And like recurring revenue, this preference can be applied too crudely.
"Uh-oh, high capex?" says the searcher. "I'll pass."
Well, when Reid Tileston saw Giddings Hawkins, a liquid waste company, he did not dismiss it even though the vactor trucks the business relied on can cost $800,000 a pop.
Instead, Reid dug in to really understand these capital expenditures, and he ultimately got comfortable with and bought this high-capex business.
Today, rather than see these trucks as an unhappy cost center, Reid loves them.
"Money-making machines," he calls them affectionately.
...And he also got his CDL so he'd be able to actually drive them, as you can see:
There's a lot more in this interview than capex, including Reid's exit (making him a millionaire), how he did right by the employees during that exit, and the book he's publishing about the whole experience, Grit It Done.
You can pre-order a copy of that for $0.99 at grititdone.com.
OK, here's Reid Tileston, former owner of Giddings Hawkins.
