[quote style=”boxed”]Promote from within. It’s the best way to motivate and maintain your environment.[/quote]
Tim Edwards is the CEO of NSR Holdings, a company that acquires underperforming or undervalued businesses, provides capital for fast-growing or high-potential startups, and creates holistic teams focused on strategy and execution in operations, finance, and human resources. NSR subsidiaries offer products and services ranging from sales and software to real estate and nonprofits. Tim is a serial entrepreneur who started his first business in middle school. He is an entrepreneurial thought leader and an expert at acquiring, building, and turning around businesses.
Where did the idea for NSR Holdings come from?
My background is in creating sales teams for startup companies; I helped over 17 of them achieve exits. NSR is my avenue for creating the same value, but for my own companies.
What is NSR Holdings’ business model?
We acquire and invest in companies that are underperforming and in need of a turnaround or growth.
What does your typical day look like?
I spend a lot of my time being involved with senior management in the businesses I own: EBQuickstart, Silver Rock Services, LimeLite Technologies, and Mavericks Miracle Babies Foundation. Other times, I’m looking into potential improvements for those companies, potential bolt-on acquisitions for those companies, or investment or acquisition opportunities for our next subsidiary/investment.
How do you bring ideas to life?
I am a person who is driven by effectiveness and efficiency; however, my guess is only the precursor to my effort and eventual result. I test ideas, and I trash the ones that don’t work. I then develop and even amplify the ones that do work.
What’s one trend that really excites you?
Anything other than skinny jeans!
What was the worst job you ever had and what did you learn from it?
I twisted on bottle caps on an assembly line for eight hours a day. I learned that hard work is good for you, whether it’s on a line or at a desk.
If you were to start again, what would you do differently?
There are plenty of small things I would change, but as a whole, I couldn’t be happier with the professional life I have. Owning multiple businesses is stressful and hard, but it’s awesome.
What is the one thing you do over and over and recommend everyone else do?
Promote from within. It’s the best way to motivate and maintain your environment.
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What is one strategy that has helped you grow your business? Please explain how.
Internal promotion has been huge for my business. I know what I’m getting, and I can use employment as a training ground for management.
What is one failure you had and how did you overcome it?
I made a mistake with a past customer. As a result, I completely changed our model and talk tract. I realized I needed to approach people differently — that’s a hard thing to learn.
What is one business idea that you’re willing to give away to our readers?
Someone needs to invent a TiVo that can be shared with others: I record a show that’s cool and push share it with a friend, who didn’t record it, on Facebook or Twitter.
Tell us something about you that very few people know.
I am the youngest of eight kids and, for a long time, I struggled with confidence and tried to make up for it with arrogance.
What are your three favorite online tools, software or resources and what do you love about them?
ESPN.com — I love sports, so this is a great place to get scores and other updates.
E-Trade — This site offers a great interface.
Pinterest — I don’t personally use it, but it makes my wife really happy. That makes it a useful tool in itself!
What is the one book that you recommend our community should read and why?
I’d recommend any biography that’s accurate regarding George Washington or Abraham Lincoln.
List three experts who have helped you and why?
My dad taught me to build a solid work ethic and a healthy sense of pride. Ronald Reagan gave me my motto: “Trust but verify.” And my business partner at FirstRev, Chris Hunt, is a great businessman.
What did you have for breakfast today?
I had a granola bar and a glass of water while driving.