The Art of Succession

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Welcome to The Art of Succession Podcast. Host Barrett Young, CPA, talks with Bob Labbe, Owner and Partner at The Ultimate Drink Coaster Co. LLC, serial entrepreneur, engineer, and inventor, about his decades of experience building and selling multiple air pollution control companies. Bob shares how he partnered with longtime collaborator John Halligan to grow businesses from small startups into successful companies that served industries across North America. He reflects on lessons from entrepreneurship, leadership partnerships, and selling businesses, including the importance of solving real problems for customers. Today, Bob continues creating solutions through new inventions, including the Ultimate Drink Coaster, while sharing insights from his career and his book on improving golf putting through simple, practical methods.

Bob shares his journey as an engineer and entrepreneur who built and sold several air pollution control companies over many decades. He talks about working closely with his longtime partner to grow small startups into successful businesses that served clients across North America. Bob explains how solving real problems for customers and building strong partnerships helped their companies grow and succeed. He also reflects on lessons from leadership, risk, and learning from missed opportunities along the way. Today, Bob continues to create new ideas as the Owner and Partner at The Ultimate Drink Coaster Co., LLC, while sharing his experience through inventions, writing, and conversations about business and problem-solving.

Join Bob Labbe, Owner and Partner at The Ultimate Drink Coaster Co., LLC, as he shares lessons from building and selling multiple air pollution control companies. He explains how solving real problems helped grow successful businesses.

Episode Highlights
[00:00] - Teaser
[02:02] - Host introduces Bob Labbe, serial entrepreneur & inventor
[02:32] - Why Bob invented "The Ultimate Drink Coaster" (ruined silk tie story)
[04:03] - From Georgia Tech engineer to first business (1972)
[06:43] - Starting a third company at 60 after retirement got boring
[09:05] - The secret to his 50+ year business partnership
[12:46] - Losing a $7M contract & the lesson learned
[16:38] - Taking the counter-risk: turnkey solutions vs. just equipment
[20:07] - Former employees recruited him to start the third company
[24:19] - The 2023 dinner party where a ruined tie sparked the coaster idea
[28:48] - Selling to an employee to preserve his legacy
[30:23] - Inventing "Putting by the Numbers" golf system
[34:33] - Mission: help 30 million golfers improve
[36:01] - Identity isn't your company; you're still a problem solver
[37:49] - Leadership lesson: cogitate before you respond
[41:48] - Shifting from running companies to being a spokesperson
[46:50] - New role: sounding board for daughter & son-in-law
[51:50] - Myth: entrepreneurs will make a lot of money
[54:47] - Where to find Bob's book & coaster