159: Buy a small business versus start one from scratch with Shane Prosser

Shane Prosser is a US Army veteran and cofounder of FalconTek, an SDVOSB GovCon services firm, and GovBrew, a GovCon focused media firm. After his time in the Army, Shane worked as part of the corporate development team at Computer Sciences Corporation (CSC), focusing on m&a for the publicly traded company. Shane and his older brother Chad Prosser acquired a small professional services business in the public sector. Since they acquired it, the firm has grown from 20 personnel to 225 personnel supporting government clients. Additionally, in 2020 they started a GovCon media company, GovBrew, that is focused on providing value to the GovCon community and empowering readers with engaging content that will keep them informed and entertained. What I love about today’s guest is he took his M&A knowledge to acquire a small business with only 20 personnel. Then he added his federal procurement skills to grow that business supporting government clients. In previous episodes we discuss this strategy of buying an existing business that has some past performance and then growing that business using federal contracts as the primary vehicle. With the impending wealth transfer baby boomers set to pass $68 trillion to their children, over the next decade, an estimated $30 trillion in wealth will be exchanged from the hands of Baby Boomers to younger generations. This great wealth transfer will not only be a significant shift in our society but have far-reaching implications for business and society. This will allow more diverse founders and disadvantaged small business owners and entrepreneurs to acquire businesses, grow and scale them. I hope you pay attention to this one of a kind episode as our next Giant, Shane Prosser shares what he has learned over the last 7 years in the business.