Can you imagine moving to a new city at the age of 37 and taking over one of the largest private companies in that city while it’s facing chapter 7 bankruptcy?
After growing up in Florence, Alabama, Harry was recruited to Memphis, TN, to take over Schilling enterprises. As of 1980, Schilling Enterprises ( real estate, HVAC, trucking, automobile sales, and the auto parts industry) had over 100 Million Dollars in revenue with over 1,000 employees. After large contracts with Ford Motor company created significant consequences for Schilling Enterprises, Harry led the turnaround effort, saved Schilling Enterprises, and turned it into a successful ownership group that acquired and sold automobile dealerships.
In Addition to his work with Schilling enterprises, Harry also owned Schilling Farms (448 acres outside of Memphis, TN and partnered with and later sold to Boyle Investment Company), was a partner in Circle Y Saddles (the largest saddle manufacturer in the U.S.A.) and much more!
This is a fantastic episode where you’ll learn:
- Why growing up with a single mother taught him entrepreneurship and work ethic at a young age
- What he did to survive when taking over a company in dire straits.
- How to buy it right. How he analyzed and acquired underperforming businesses and turned them into valuable assets
- Why his success boiled down to the importance of him finding the right partner
- Why He’s grateful for second chances
- And much more!
Please enjoy this week’s episode with Harry Smith!