In this conversation, Tommy Mello interviews Johnny Conklin, founder and managing partner of 16 South Capital Partners. They discuss the importance of partnerships in business, the evolving landscape of private equity, and the role of founders in driving success. Johnny shares insights from his journey in private equity, emphasizing the need for authenticity, transparency, and a focus on non-economic goals. He explains the unique approach of 16 South Capital, which prioritizes legacy preservation and team culture over traditional leverage strategies. The conversation also touches on the misconceptions surrounding private equity and the importance of preparing for life after a sale. 00:00 The Importance of Partnerships 06:11 Navigating the Changing Landscape of B2B and B2C 09:03 The Role of Founders in Business Success 11:54 Understanding the Value of Non-Economic Goals 14:45 The Unique Approach of 16 South Capital 20:54 The Importance of Team and Culture 26:47 The Misconceptions of Private Equity 29:45 Preparing for Life After a Sale 32:50 Advice for Aspiring Business Owners 35:51 The Future of Private Equity and Business Growth

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