David Acharya: Managing Director of Acharya Capital Partners on the Rise of the Independent Sponsor Model and the Power of Reciprocity

Interviewed by Linnéa Jungnelius

“I think the difference between a good private equity investor and an excellent private equity investor is recognizing and making sure that you don't think of yourself as a transactor. You think of yourself as an investor,” says David Acharya.

David Acharya is the Managing Partner of Acharya Capital Partners, a New York City-based PE firm that buys and grows lower middle market companies.

He discovered his passion for the independent sponsor model after progressing over 25 years as a private equity investor with a fund, and investment banker on Wall Street, thriving in the pace of change, alignment, and impact that he's able to bring forth. David also serves on the Board of ACG Global, the community for middle market deal-making.

On this episode of the Brilliant People Podcast, Linnea Jungnelius, Global Head of Marketing & Strategy at Acertitude, sat down with David to explore the emergence of the independent sponsor model, what makes it attractive, and mastering the art of deal sourcing and marketing. Not to mention, how to become a brilliant person in all parts of your life.

Linnea: David, give us the 60-second scoop on you.

David: I’m a lifelong New Yorker, born and raised in New York City. Went to college in New York City – St. John's University out in Queens. I still live in the same neighborhood I grew up in as a child and love the city. I was a former investment banker, and now a private equity professional. You can kind of define me as a Wall Street guy. I’ve been following this career path since I graduated from college. I love it and have such a passion for it.

Linnea: Such a great space and a great city. I just moved here in March myself. Start us off with the fundamentals here. How does the independent sponsor model contrast from private equity, and maybe touch on key differences in structure and economics?

David: An independent sponsor model is related to private equity. We basically invest in growing companies using capital that we raise from investors on a deal-by-deal basis. This differs from the private equity model where you do all the same things except tracking of the flow. You start raising money up front, then you go out and search for companies. As an independent sponsor, you are searching for companies to invest in as well as raising money for that particular investment.

It's great from an investor's perspective, from a fee perspective, and to have the ability to option in or out of an investment that they’d like. With a private equity model, they're entrusting that decision-making to a group of investors that they may not have control over. I think it's grown a lot in popularity, and I have to say, nobody's more surprised at the growth of the independent sponsor model than myself. It's grown quite a bit in the last decade.

The model is here to stay, it's here to grow, and I think it'll continue to grow given the structural benefits that investors have.

A number of funds have grown to be focused on independent sponsors. When I talk to family offices and say, "Hey, I'm an independent sponsor," they know exactly what it is. More importantly, Wall Street bankers have accepted us. I'm invited to numerous lower middle market M&A auctions and bankers are very open to having meetings with me. The model is here to stay, it's here to grow, and I think it'll continue to grow given the structural benefits that investors have.

Linnea: Yes, it has been an emerging channel for the past decade, particularly in the lower middle market. What makes it an attractive option for sellers and investors?

David: From an investor's perspective, they have the option of putting their capital in an investment or not. You don't necessarily have that benefit or that confidence when you put money in what's known as a blind pool. If I come to you and I say, "I have this company, and here is why I think you should put money in it," they'll look at it, rely on my diligence and say, "You know what? We like this business. We like you. We are going to allocate some money towards it." If you give them a deal that they don't like, they have the option to walk out.

If you give them a deal that they don't like, they have the option to walk out.

I was very surprised at how open companies were to working with independent sponsors. I'm going to give you a story – what I got from a CEO recently – and it's a very similar story that I've gotten from CEOs in the past. “You're an entrepreneur just like me. You're not XYZ associates. You literally put your last name on the door, and that means I want to deal with you.” Usually, what happens with a lot of large private equity firms, is that a lead partner comes in with the deal, hands it off to an investment team, and then the CEO doesn't see that partner unless there's a Board meeting.

In the independent sponsor structure, I don't hand the deal off to anyone. I'm responsible for sourcing the deal, for financing the deal, for performing due diligence, closing the deal, and making sure that we are meeting expectations according to our thesis (and hopefully selling it for more than what we paid for it). There's nobody to blame except myself, and I think that model has really appealed to smaller middle market companies.

In the independent sponsor structure, I don't hand the deal off to anyone.

In reference to a very successful investment that I recently exited out of, I remember talking to the CEO and said, "Hey, when we first met, did you expect us to sell this company for all this money?" He replied with, "You know what, I always knew we were going to do well, but one of the reasons why we went with you is I felt that we would get attention. I can call you on a Thursday or a Friday night." And they have – I've picked up the phone – and if there was a problem, I didn't hand it off to somebody, I'd solve it myself.

Linnea: I'm hearing personal ownership, attentiveness, and involvement. And again, the inherent trust that builds with the CEOs and entrepreneurs that you're working with.

David: Investing… we have made it a transactional business, and it's not. Investing is working with the team to grow a product, grow a service. In the transaction world, it is easy to say, “Hey, we've done the job. Here's our invoice, pay us, and we move on.” Here, I own the problem. I own it during good times. I own it during bad times. And when there's bad times, I'm expected by my investors to turn it around.

Investing… we have made it a transactional business, and it is not.

If it's good times, I'm expected by my investors to continue the trend. It contrasts with the transaction world, and I think the difference between a good private equity investor and an excellent private equity investor is recognizing that and making sure that you don't think of yourself as a transactor. You think of yourself as an investor.

Linnea: It sounds like it's a total fit with how you like to operate. Now that you’ve spent years in this role, and seen different parts of the universe, what advice do you have for others that are thinking about jumping into being an independent sponsor for the first time?

David: You need to have experience. You need to understand what it is to be an investor, how to value a company, how to build a model, how to do a deal. And no matter where you are, how lucky you are in life, you need to understand these fundamentals.

You need to understand what it is to be an investor, how to value a company, how to build a model, how to do a deal. On the personal front, it's important to note that you need runway space.

On the personal front, it's important to note that you need runway space. When you are an independent sponsor, you don't necessarily have a salary. You're responsible for your own benefits, and your own physical and psychological wellbeing. When people say, “I want to get into the independent sponsored business,” I say, “Okay, do you have the personal runway space to do this?” I'd say you need at least a year or two of runway space.

You also need to have the fundamentals. We live in a society where people read about somebody being very successful at something, and it attracts a lot of people. I like to tell people not to go for the glamour. A lot of people see deal closings, money being spent, and the pictures at the parties. What a lot of people don't see are the many trips that I've taken across the country to meet with a company, and 20 minutes into the meeting they say, "Nope, this is not for us." They don't see the many “no’s” that I've gotten from investors.

They haven't seen the struggle with investment bankers and companies to convince them that you are a viable candidate. Then when you talk to service providers, they say, “I'd rather deal with the big firms than with somebody like you.” There is a lot of glamour in our business, but I always like to tell people to think about the unglamorous parts – you must deal with that as well, and it's not easy for a lot of people.

Linnea: I'm hearing a few filters for how to think about this work. Is t what you want to be doing professionally? Do you have the professional mastery? And the personal piece: does this fit your lifestyle? Does it fit how you operate as a person?

David: Exactly. You always have to be optimistic in this business, but you are also the fiduciary for investors, and have to think about what can go wrong. Similarly to how you look at an investment, you must look at life like that.

Linnea: That's a good segue. As you think about the best and brightest independent sponsors, and you've come across a lot of them, what separates the ones that are really good from the rest of the pack?

David: Experience. The ability to network and upgrade skills. I meet private equity investors who were very successful in the '80s and '90s who never upskilled, and then they wonder why they're struggling now. The world has changed, and the world continues to change. I think any good investor is a forward-looking person, not somebody who looks back. I've had successes in the '90s and 2000s, but I always like to say my greatest success hasn't come yet because I'm looking forward.

I think any good investor is a forward-looking person, not somebody who looks back.

Linnea: Great point. You've recently had two successful exits, one of which was Impact XM, the global event and experiential marketing agency. You sold that off to The Riverside Company in December 2023. Let’s dive into the Impact XM story. Could you start by sharing how you sourced the deal and the deal dynamics?

David: When I started my career as an investment banker, I was placed in what was then one of the most boring groups on Wall Street in the early '90s: telecom media. Technology wasn't as active as it is now, but I've always gravitated towards what we now call the TMT sector. At a fund, early in my private equity career, I was involved in the investment of more than 65 trade shows, and I would always ask the attendees and the sponsors, "What do you hate about trade shows?" and they said, "We hate the booths, because you have to have them. They're expensive."

As a private equity guy, I heard recurring cashflow and high margins. I started looking at what back then was called “trade show booth manufacturers”, now “experiential marketing.” Later, at an industry event, I met an accountant, we exchanged notes, and he said, "I want to introduce you to this investment banker in Toronto, Canada," to which I said, "Great, I love to meet more and more bankers."

I had a call with this banker, introduced myself, went through my background and he said, "You talked about booth manufacturers. I have a family-owned company based in Toronto. Small, fits within your criteria, and they're looking to partner up with a U.S. private equity firm." I looked at the book and by the time I got to the end, I was excited because I finally found an experiential marketing agency, that I wanted to invest in.

Ironically, the investment started at my previous firm – we didn't have any committed capital –and a mentor of mine, a very successful independent sponsor, called me out of the blue. It was as if The Almighty was listening and saying, "I want to introduce you to this firm, Peninsula Capital Partners, and a partner named James Illikman."

I hosted him for a cup of coffee in my New York office, and 20 minutes into the meeting I felt that we could truly work together. I mentioned, "I have this nice, small company. It's in a foreign currency, it's in Toronto, and is your firm interested? Can it in invest in something like this?" He offered, "Yes, we've done deals in Toronto." Later, he called me and said, "We would like to work with you on this,” and in December 2014, when I was still a partner at my previous firm, we closed the deal.

The thesis was to enter the United States and take advantage of some of the positive headwinds in the experiential marketing world. We were able to do this through eight complementary acquisitions, and moved the headquarters from Toronto to Princeton, New Jersey. We backed a great CEO, who had passion for this business, and kept me inspired to push the opportunity among investors.

During this, we had to deal with Covid. The one business that obviously got hit during Covid was anything face-to-face, particularly trade shows. And there we were, March 2020, and the whole world stopped. Nobody could go to an event, and we're in the business of manufacturing trade show booths.

The one thing I've learned in life is that it's not about being knocked down. It’s about getting back up and always moving forward.

The one thing I've learned in life is that it's not about being knocked down. It’s about getting back up and always moving forward. Ironically, we made several changes. I give the CEO a lot of credit, as we were able to grow the company profitability by about 15X by the time we sold it. If you told me in March 2020 that three years later, we would be selling this very successful company to a great private equity firm, Riverside, I would say, “I can dream and I can hope, but I'm not going to get too excited here.”

Linnea: Let's get into the value creation story. How did you go about improving operations and scaling the company? Particularly, as you got through Covid, how did you infuse resilience and agility into the business?

David: The driver of any successful private equity company is the people. The problem is it's hard to measure analytically. You can rate a person a “5” or “6” and say, “let's back that,” but it doesn't work that way.

The driver of any successful private equity company is the people.

Sometimes, you can take somebody from a very successful company, put him or her in another situation, and it may not work out. Conversely, you can take someone who didn't have such a great record at a large company, but put them in a different situation, and you find out they're a tremendous success.

Bottom line, we made sure we would continue to invest in people. We had a great CEO and expanded his team by bringing on a quality CFO, COO and head of sales. We upgraded the existing operations team. We gave them technology and an internal system where everybody spoke to each other, both from a technological and group perspective. We did it through organically investing in good people, but also looked at competing organizations and acquired and integrated them into our system. Doing a combination of both made it a very successful exit.

We did it through organically investing in good people, but also looked at competing organizations and acquired and integrated them into our system. Doing a combination of both made it a very successful exit.

Linnea: We know all too well in our world of executive recruiting how that looks. Tell me more about your overall approach to talent and getting the right team in place.

David: The playbook depends on the situation. You have to look for leaders who can create a culture that works for them and for the company. Let’s take Wall Street – now I'm at a smaller firm, and try to copy/paste the culture of that big firm to the smaller firm. Chances are it fails, so I always ask, “How do you build teams? How do you handle the one person who is not a team player?”

For me, it's about coaching. Sometimes, there's a difference between coaching and training; some people need training, some people need coaching. Sometimes, things are so bad that you have to terminate their employment. I had a top salesperson many years ago, who had a big problem from a cultural perspective. He was never a team player and didn’t treat the opposite sex with the respect that they were supposed to get.

Finally, I sat down with the CEO and said, "You have to let this guy go. It's not working out." He said, "He's my number one sales guy," and I countered with, "He's the number one sales guy now. What happens when people push back, and the culture pushes back?" It was a calculated risk from the surface, but after he left, the amount of innovation and information that was flowing from one person to another increased, the number of new clients that motivated his junior people to call grew, sales and cashflow grew, and the company was eventually sold to a very large media company.

There's no standard playbook. You have to look at each situation differently, and you have to make sure that the expectations you set are accepted by everyone in the room. There's a tendency to say, "PowerPoint presentation – here are the bullet points." You want everybody in the room to be part of that presentation, so they understand. Once you have that, you will find you achieve greater levels of success.

There’s no standard playbook. You have to look at each situation differently, and you have to make sure that the expectations you set are accepted by everyone in the room.

I don't see success when somebody walks in the room and says, "Linnea, I want you to do it this way, okay? Thanks." and they walk out of the room. That is a setup for failure. But sitting down with you and saying something, "So, Linnea, what do you think we should be doing? You're talking to the client, the customer, you're out on the road, you're hearing all these things. What are we missing?" Sometimes the answer could be more help, technology advancements, or an improved process. Regardless, by having you involved in the decision, you are creating value for the entire organization.

Linnea: When you sit down and really listen, particularly with leaders of these lower middle market businesses, what are the common challenges they face and struggle to work through?

David: When it comes to lower middle market companies, there's not enough help. What winds up happening is that you're focused on one thing, but you should be doing another thing to help the overall organization. One of the first things we do is sit down and ask, “What are you missing?”

For example, Impact XM was missing an industry-focused CFO, and we went out and got one. He did a great job; it’s about getting the right people into the right roles. What I've always found is that there's not enough people. You find that the CEO is making customer calls, reviewing internal statements, managing the sales meetings, and managing the administrative aspects of running a company. At that point, what you need is a CFO, a head of sales and a chief operating officer that can help you.

You can achieve this in several ways:

1) When you acquire a company, assess whether you have a good management team that can supplement and support the organization.
2) Hire the right people.
3) Promote from within.

With Impact XM, we bought a company that was based in New Jersey that had what we were missing, and we had what they were missing. It was a perfect puzzle as we put it together, and that's key. When you walk into a middle market company, they just don't have the resources. You don't have the marketing budget of an Apple, the brand name of a Goldman, the technology base of a Google. So, it’s about investing in the people to grow the company.

When you walk into a middle market company, they just don't have the resources. You don't have the marketing budget of an Apple, the brand name of a Goldman, the technology base of a Google. So, it’s about investing in the people to grow the company.

Linnea: And grow the company you did. How did you successfully navigate to an exit from there?

David: We have held the company for about 10 years – we are long-term investors – but we're not that long-term. Investors want to get their money back.

We were prepared. We had a management team that knew we wouldn’t be in this for the long run, since we're owned by private equity. We always ran the company as if we were going to sell quickly. We just had to pick the right timing, and Covid obviously delayed a lot.

We were going through this crazy economy. We had rates rising, the lending market slowed down, and in our industry, there weren't many tombstones or closed deals, so there weren’t many comparisons. We not only made sure that the team was prepared, but also hired an investment bank that had a lot of industry experience. They not only knew how to position the company but had the experience and reputation to be believable in the marketplace. We didn't highly publicize it, but we did approach it like any other M&A process, and a large group of potential buyers, including Riverside, put their best foot forward, and we decided to move forward with Riverside.

It was a difficult time, but what worked in our favor is that once we sold the company, new investors and funds called me saying, "Oh my God, you sent money back during this time period?"

I didn't anticipate that as being a big benefit, but there were a lot of inbound phone calls coming from investors trying to figure out how I did it and what my next move was. Yesterday I had a call with a new investor. This afternoon, as soon as we're done with this interview, I'm going to meet with somebody else. I would say it’s a little bit of luck, and a lot of preparation.

Linnea: Part of that preparation is building your network, which I know is something you are personally passionate about. Naturally, you both sourced this deal and raised the funds through that network of yours.

What marketing strategies have you found to be effective in building your reputation and specifically in fueling your dealmaking?

David: Everybody has a different strategy and strength.

Face-to-face meetings

I always felt the best thing that worked for me was face-to-face, sitting down with you, going through both professional and personal stories. The one thing I've learned about deal-making is you spend a lot of time with people, and once you get to know them, the process of getting towards the finish line is a lot better. When you have such a positive experience, you tend to go back to them for whatever service.

The one thing I've learned about deal-making is you spend a lot of time with people, and once you get to know them, the process of getting towards the finish line is a lot better.

Leverage technology

Aside from that, leverage technology. We have LinkedIn, we have this great podcast, we have a very extensive CRM and a marketing team at my firm that will push out all types of news and engagements to the middle market community.

Old-fashioned phone calls

Lastly, old-fashioned phone calls. If I don't know a banker and I read about them starting a group at a bank, I'll call them and say, "Think of me as you bring deals to the marketplace. I could be helpful to you.” Networking only works when you're relevant to both people.

If you walk into a scenario and say, "Well, I want this, but I'm not doing anything for you," those on the receiving end will get bored and move on. I always say to people, when I meet somebody, am I going to be relevant to them and are they going to be relevant to me? As much as I like to meet people, you cannot make time to meet everyone, so you must pick and choose who or what is very instrumental to you.

Last week, I had to turn down a deal because the CEO wanted to leave, and I told the banker I couldn't invest unless there was a CEO in place. You were the first person that popped into my mind. I thought, “Let me talk to her, and see whether she has a candidate she could potentially introduce me to.” In essence:

1) Face-to-face networking goes a long way.
2) Ensure that you are relevant to everybody that's involved in a networking-related discussion.
3) Make sure you contribute to the community. If people see that and that motivates them to call you, that’s how you further expand your network.

Linnea: You're speaking to something that's close to my heart. You must be relevant, but on top of that, you must care. Put the care in, put the commitment in, show up, and things tend to work out.

One thing that you didn't mention yet is the Association for Corporate Growth (ACG), where you've been very active. You ran the New York chapter, and now you sit on the global Board. Talk to me about what’s kept you engaged with them as a member for a whole 15 years?

David: Years ago, I had a great boss who was both tough and fair. What made him great is that he also focused on my corporate ladder, which you don’t see many leaders do.

He comes to me around 2006-2007, and says, "Listen, you're great at getting into the data room, doing the analysis and negotiating, but you need to figure out a way to start sourcing your own deals, bringing them in, and using your own relationships.

So, I signed you up for something called the Association for Corporate Growth." I'm running around trying to manage deal teams, and the secretary walks in and says, "By the way, you're going to this ACG event." I looked at it and it was a wine tasting, and if the boss was sending me to this type of event, I wasn’t going to argue.

I took a stack of business cards, went to this wine tasting, and I walked out with another stack of new business cards. I was such a rookie back then. I would take each business card and say, "Hey, nice to meet you. This is our investment criteria. If you have anything that you think we should be talking about, let us know."

Within three to six months, I became the #1 deal sourcer for the firm. We were a small firm then, and I wasn't even a partner. The main partner told me, "I went to this industry conference - somebody said they met you at the Association for Corporate Growth event, and they're going to put us on Project XYZ's buyer's list." I became a member around 2009, and would go to a bunch of events, meet quality people like you, Linnea, and exchange a lot of business cards.

Around 2012-2013, I got an email saying that I should think about joining the Board. At that time, a lot of my success came from ACG, so I joined the Board and the first meeting I had, I was a word that's never associated with me: intimidated. I was in the room with many middle market superstars from New York: she was quoted in X magazine, that guy was quoted in X magazine, and he was on CNBC. And here I was, trying to do this crazy little thing called independent sponsor model.

Little did I know that this extraordinary group of people would ask me to lead their chapter for a few years. During that time, a lot of us who were on the Board said that the most important member was missing: the deal. We had to get the deal back in the room because it motivates you to come to an event, it motivates me to come to an event, and it motivates both of us to converse.

We had to get the deal back in the room because it motivates you to come to an event, it motivates me to come to an event, and it motivates both of us to converse.

This group of us – private equity, investment banks, family offices, accountants, lawyers – we got together and decided to make some changes. We were the largest chapter, and held over 40 events per year in New York City. It ended up being such a game changer for me personally, that I'll always have fond memories of my work with ACG and the New York chapter.

A few years ago, ACG called and said, "We are trying to do the same thing across all the other chapters. You have a lot of experience, so you can contribute." I was more than willing to help an organization that helped me build my business, my brand, and my platform. I tell people in the middle market world that they need to network with people. ACG is a great platform for that with 59 chapters, 15K members, and more than 1K events. I think that’s where you and I met.

Linnea: Yes, that’s right, and I've met so many other tremendous people as well. Let's switch gears. When you're not at work, tell us what you do to show up as your best self every day? Because you can't be a brilliant person at work if you're not a brilliant person outside of work.

David: You can't be a brilliant person unless you're a brilliant person in all parts of your life. I have led a very career-centric life, and as you get older, you realize the need to connect with people. Investing in yourself physically, trying out new activities, expanding horizons, and taking care of yourself emotionally is also key. This includes exposing yourself to different experiences and cultures, which is so easy to do in New York City.

You can't be a brilliant person unless you're a brilliant person in all parts of your life.

The hardest thing to do is to avoid destructive situations. I think the most destructive drug on this planet is people. Within the last 10 to 15 years, once I realized a person was destructive, I would avoid them. When I look at people who aren’t happy, it's not because they're not in a good position in life, it's because the people around them are not putting them in a good position.

I am fortunate to have good family, friends, professional colleagues, even people who I just met. I remember the night we met at an ACG event and we learned something about each other – that you had such a great background, Linnea – to grow up and come in from another country then move from one city to another city, that's impressive. Your ability to connect with people was key; I saw that you talked to everyone at the event, whether the person was a senior private equity professional or a junior trying to start his career. Bottom line, I have always found that you need to surround yourself with good people.

So, take care of yourself physically, take care of yourself emotionally, be open to other cultures, whether it is entertainment, languages, movies, or food. That’s easy to do in New York City.

Linnea: Totally, take care of your relationships with others and with yourself. Are there any leaders inspiring you lately?

David: I admire everyone that comes into the office and does the work they're supposed to do to move the industry and the project at hand. Years ago, when I was in investment banking, I worked with a guy named Jimmy Lee, a legendary banker.

Every Monday morning, we'd have this meeting where the global investment banking team would get together in a large auditorium, and we'd review deals. He always liked to say, "I want all of you to get up in the morning, do your best, and then do it every day." It is so simple, so hokey, and yet, if you follow that simple philosophy, you'll have large blocks of achievement in your life, whether it's professional or personal. Another leader said to me, “Never, ever, ever give up.”

Linnea: Where else do you draw inspiration from? Are there any books, podcasts, quotes, or content?

David: I like to read everything, and I don't know if I can point to a particular area. I read several online newspapers and magazines from all around the world. I like to read about popular culture, but I also just like to talk to people. To be a good investor, you need to know where the pulse of the market is. And to do that, you need to read, absorb, listen, and interact with as much as you can.

To be a good investor, you need to know where the pulse of the market is. And to do that, you need to read, absorb, listen, and interact with as much as you can.

I use technology for that and read about 20 books a year. If you come to my house, you would think I don't read because I don't have a bunch of books lying around, but you can pick up my iPad and it looks like a library.

Linnea: Now, if you walked into my place, you would see books everywhere. I'm a sucker for a good old copy from a bookstore.

We are close to the finish line here and at the end of each episode, we like to define brilliance in a few ways. I’m going to hit you with a quick lightning round if you could please fill in the blanks.

David:

Purpose is… to find joy, contentment, and satisfaction in my personal and professional pursuits and relationships.

Leadership is… the accomplishment of a goal through the direction of people.

Success is… something different for everyone. For me, it's financial stability, a positive reputation in my industry, and strong family and personal connections.

Brilliant leaders… have integrity, compassion, determination, and they're constantly educating themselves.

I perform at my best when… I’m sleeping well, eating well, exercising regularly, connecting with people, engaging in meaningful hobbies, and making time for personal reflection.

Linnea: Thank you to David Acharya of Acharya Capital Partners for joining us on today’s episode. I hope all of you walk away inspired to pursue your passion and make middle market deals happen, particularly if you are an independent sponsor.

That's it for this episode of the Brilliant People Podcast. If you found this conversation valuable, please be sure to subscribe, rate, and review the show, and follow Acertitude on LinkedIn for the latest insights on how to lead and perform at your best.

Until next time, stay brilliant at work.

Defining Brilliance with David Acharya

	Purpose is:	to find joy, contentment, and satisfaction in my personal and professional pursuits and relationships.
	Leadership is:	the accomplishment of a goal through the direction of people.
	Success is:	something different for everyone. For me, it's financial stability, a positive reputation in my industry, and strong family and personal connections.
	Brilliant leaders:	have integrity, compassion, determination, and they're constantly educating themselves.
	I perform at my best when:	I’m sleeping well, eating well, exercising regularly, connecting with people, engaging in meaningful hobbies, and making time for personal reflection.