Adam Vandermyde and His Acquisition of a Fuel Service Business - Interview by Adam Torres - Mission Matters Business Podcast
Adam Vandermyde, President and CEO of Petro West, Inc., was recently interviewed on the Mission Matters Business Podcast with Adam Torres.
Holding ownership of a firm is a challenging affair that requires the utmost sincerity and dedication. That spirit can be seen clearly in this interview with Adam Vandermyde, President and CEO at Petro West Inc. While talking about transitions in his career path, Adam highlights aspects of his entrepreneurial journey so far.
Listen to the full interview of Adam Vandermyde with Adam Torres on Mission Matters.
The Start
Adam was fortunate to get exposure from multiple areas early in his career. After serving as a Plant Manager at a reputed corporation, Adam decided to return to school and complete his MBA at Brigham Young University. After graduation, Adam started a nine-year career in consulting with Deloitte and PwC Consulting. Recalling his time in consulting, Adam states, "It was a great career choice."
Adam then went on to work on the executive team for a portfolio company owned by a well-known private equity firm for the next three years, which added new skills and experience to his journey. At this point, he decided to take a leap and opt for entrepreneurship, becoming the President and CEO of Petro West Inc.
The Entrepreneurial Life
The acquisition of the fuel business guided Adam to step into entrepreneur's shoes and lead the workflow. In his words, buying the company had been an uncertain decision if viewed at a macro level. According to Adam, considering the micro insights, this was the best time for him and the company to welcome the new establishments. "I brought what they needed!"
Adam had been looking for an opportunity to add value with his skill set and passion but wasn't inclined to starting something from scratch. This made Petro West Inc. the best place for him and pushed Adam to take risks.
The Industry Dynamics
Talking about competition in the fuel industry, Adam expresses his desire to serve his customers with an astounding experience, "We want to be whom you want to work with." He also shares his vision to have satisfied customers who come back for more work. "We are in this for the long run," says Adam.
Adam highlights the company's challenges during managerial transitions and credits his dedicated team for quickly absorbing the change in a positive way. He is also happy to resonate with the company's vision of serving their customers with a seamless experience with the aim of making the journey easy for customers.
Advice
Adam advises young people in the industry to focus on extensive problem-solving rather than just executing tasks. For the people already in the field, he urges them to create (and then use) political capital to drive their growth and performance.
Moving forward, Adam foresees 2021 to be an excellent year for the company and states his plans, saying, "We wish to maintain our core business but also adapt to the changing industry landscape."
About
Petro West Inc. specializes in sales, service, installation, and distribution of petroleum storage, dispensing, and monitoring systems. Petro West's offices are located in Southern Utah, Northern Utah, Flagstaff, Reno, and Las Vegas. Its construction division includes new construction and renovation of retail and commercial fueling sites, government and industrial fuel storage and transfer facilities across the Western 22 states.
To learn more about the organization, visit Petro West Inc. here and get in touch!
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