What Peer Benchmarking helped Ron Sturgeon accomplish
Although he didn’t start with many natural advantages, Ron Sturgeon has always had a nose for opportunity and a knack for entrepreneurship. When his father died, his stepmother threw 17-year-old Ron out of the house. Homeless but undeterred, Ron parlayed a $2,000 inheritance and a used VW into a successful auto repair business right out of high school.
The repair business grew into one of the largest auto salvage businesses in the United States. Never afraid to innovate, Ron developed new marketing techniques and was the first to computerize his operation. Inc Magazine profiled his business because of Ron’s ability use database driven direct marketing intelligently to grow his company. Using simple tools, Ron created a system that worked to find and close high value accounts efficiently.
When Ron needed capital to expand, he did his first oversubscribed private stock offering. In 1999, Ford brought Ron’s six yard, 140-employee Texas operation.
In 2001, Ron founded an auto auction to help insurance companies in Texas dispose of salvaged vehicles. Again, Ron sought investors in a private stock offering and again it was oversubscribed. Fifteen months later, the largest public company in the sector purchased his company. Drawing on his experiences, Ron wrote How to Salvage Millions from Your Small Business, a guide for entrepreneurs, now in its second edition and licensed in five other languages.
In 2003, Ron and two partners purchased Ford Motor Company’s auto salvage division. GreenLeaf had grown to 26 locations in 15 states and over 1,000 employees, but it was losing a substantial amount of dollars per month. Ron was in charge of legal, environmental, insurance, licenses and permits after the buyback. He held a board seat and contributed to improving sales and marketing, lowering costs in purchasing, and implementing better employee training programs.
After turning around the operation, Ron and his partners sold to a $2 billion dollar public company in 2005. Ron’s second book, Green Weenies and Due Diligence: an insider’s guide to the colorful lexicon of the boardroom was published in 2005.
Ron’s current ventures include an exotic car driving experience company in Fort Worth, managing his commercial real estate holdings and a full schedule of business consulting and public speaking on topics related to successful entrepreneurship.