R. Scott Sutton, CFE, is a big player in the mergers and acquisitions (M&A) and franchising markets. As the director and vice president of Dallas-based Safeguard Acquisitions Inc., Sutton directed what has been referred to as the "most aggressive and successful acquisition and conversion strategies" in company history.
A sizable accomplishment, no doubt, but for Sutton, this is just another day—or as he sees it, another way to get business owners one step closer to fulfilling their dreams. The seller mapping out his retirement plan. The franchisee seeking corporate gain. The entrepreneur hoping to expand her brand. This is the type of passion that drives Sutton in every deal he completes.
"When we find the right deal, with the right culture and with the right people, it creates a scenario where everyone can win, where every person touched—seller, buyer, customer, employee, company—can achieve a goal and nurture a passion," he said. "It's a blessing and an honor, but also a responsibility to make sure we preserve and help grow the legacy of each business we purchase and each employee, customer and community it touches."
Read on as Sutton talks shop.
Print+Promo (P+P): How does the economy continue to affect the industry?
R. Scott Sutton (RSS): I've read, seen and heard from many who consider the current and evolving economic conditions to be risks to the industry. I see them as opportunities. Throughout the latest period of economic volatility, there is one noticeable constant that seems glaring. In many businesses, people are doing more with less. For some businesses, it may mean doing more—trying to grow their business—with less access to capital. For others, it may mean a focus on innovation with fewer employees, for example. These companies, especially the ones who've been able to thrive during a period when many companies were simply trying to survive, are relying on their business partners (i.e., their consultants and vendors) to help them solve their problems. From my perspective, those realities present a phenomenal opportunity for our industry.
P+P: What do you expect to be some of the biggest changes the industry will face?
RSS: Our industry really sits in an amazingly situated place to provide even more products and services needed to solve customer problems and support each other's quest for growth. Arguably every sale to every customer being served by our industry members starts with a strong relationship. And that relationship can be leveraged and expanded into other areas of support for each customer. This only works, of course, if companies are open to change—to step outside their comfort zones and learn new things and take some risks. I strongly believe that those willing to invest and commit to staying on the forefront of technology and innovation will be those who continue to thrive in our ever-changing marketplace.
P+P: What do you think is the most exciting, cutting-edge thing your company is doing right now? Why?
RSS: We've added new talent, new thinking and new ways of solving customer problems. And we've seen these people, these ideas and these solutions be embraced by those who have been within the Safeguard family a long time, along with those who are new to our network. This cultural transformation and exchanging of ideas and best practices is certainly leading to the evolution and creation of exciting new products, services and solutions—but even more, it has created a cultural foundation upon which our organization can thrive as our dynamic marketplace continues to evolve.
P+P: What would people be surprised to learn about you?
RSS: It's no surprise to most that I love water. I've been surfing and skiing and splashing in beaches and pools since before I was walking. [...] What may surprise people is that one of my first encounters with the sea nearly ended very, very badly. It was certainly something that probably should have made me avoid water altogether for the rest of my life. As a young child, I was caught in an undertow while vacationing on a North Carolina beach. After my older brother got sucked-in trying to pull me from the current, my mother grabbed my arm and yanked me to safety. I was rushed up the beach and checked out and after I came to, I was taught a life lesson that I will never forget. While sitting in the sand, still in shock and with tears of fear still on my face, my father looked down at me and said softly, "You know, at some point you're going to have to go back in the water." It was a subtle, but powerful message, one that's stayed with me and I return to often: In life you will face some tough times and scary moments, but to overcome and succeed, you have to get back up, dust yourself off and try again.
- People:
- R. Scott Sutton
- Places:
- Dallas