Ep. 11: David Stanton - Lessons from Four Decades in Water
When I started Burnt Island Ventures, I needed help. I needed help of all kinds. But one of the things I needed most as a first-time fund manager was credibility in the decision-making process. David Stanton agreed to become a member of our investment committee, and he put a crucial brick in the BIV credibility wall. In this episode, you will see why. David is deeply experienced in startups, growth companies, and corporates, and he now runs Cleanwater1, hired by Baird Capital after they purchased UGSI in 2022. I have learned so much from David, from management tactics to market assessment, and I know you will too. Please enjoy my conversation with David Stanton.
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Full show notes and links to mentioned content below.
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David Stanton shares profound insights into the nuanced evolution of the water sector, from the consolidation era of the '90s to the contemporary landscape shaped by digital transformation and rate alignment. Delving into themes such as entrepreneurship, sales dynamics, and M&A strategies within the industry, he uncovers the intricacies of navigating structural dynamics and fostering operational excellence. With an emphasis on the paramount importance of sales in driving business growth and the imperative of building resilient virtual teams, today’s engaging dialogue offers invaluable insights into effective entrepreneurship and team management strategies. Ultimately, through past experiences and future aspirations, the episode illuminates the path towards sustainable success in the ever-evolving water sector landscape.
Episode Highlights:
0:00 Start
0:49 Introduction
1:53 David’s career in water
5:47 How water utilities are allowed to make money
10:57 David’s key learnings in entrepreneurship
14:23 How to do M&A well
19:39 Private equity
23:40 The importance of the nomenclature used within the industry
26:12 Client and customer terminology
29:11 The role of consulting engineers
31:14 Clearwater1’s dual incentive structure
33:28 Changes in the water sector past, present and future
36:41 The industry’s public narrative
41:07 Hiring and managing teams
43:02 David’s one piece of advice for aspiring entrepreneurs
44:18 Christine Boyle’s “Why Deep Pain Leads to Great Products”
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