Steve Cloetingh — Co-Founder of Signal Holdings LLC and CEO of Military Veteran Partners
Release Date: 09/11/2019
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info_outlineSteve Cloetingh is the Co-Founder of Signal Holdings LLC, a provider of wireless handset protection programs and repair services, and CEO of Military Veteran Partners (MVP). Steve shares his journey of entrepreneurship, from founding a startup with his brother to growing it to a $500 million enterprise with 2,000 employees and multiple locations across the country. He reveals more about his working relationship with his brother, what it took to scale the company and how he managed the exit and eventual sale of Signal Holdings. Today, Steve is actively involved in addressing unemployment and underemployment among Veterans through Military Veteran Partners. He explains why this is a cause he is passionate about and why Veterans are an untapped resource he hopes to introduce to society.
Key Takeaways:
[1:17] Kevin introduces his guest for this episode - Steve Cloetingh.
[3.00] Kevin does a speed round with Steve Cloetingh.
[4:35] Steve shares a little about his background.
[5:59] Kevin and Steve discuss some props, and dive into the history of wireless mobile communications.
[9:38] What was the crazy idea that Steve and his brother, Tom, had?
[12:27] What were the first five years of business like for Steve, and how did he grow the business?
[16:33] How did consumers interact with Signal Holdings?
[20:35] What was the competition like for Signal Holdings?
[22:18] How did Steve manage the risk and filing requirements of being in the insurance business?
[23:40] What are Steve's thoughts on whether entrepreneurs are born or made?
[25:23] Steve's company grew from just him and his brother into a company with 2,000 employees and locations across the country. What was Steve's role in the scaling of the company?
[27:42] How did Steve manage conflict and friction with his brother when it came to leading the company?
[29:56] Why did Steve decide to take outside money? How did the partnership with Stone Point Capital come about?
[32:54] Five years after this partnership, Signal Holdings was sold to Assurant. Steve shares more about this strategic acquisition.
[34:36] Steve and Kevin discuss how the 2008 crash affected Signal Holdings.
[37:12] What was Steve's experience as an employee?
[39:13] What attracted Steve to Jerry Flanagan and the business opportunity he presented in 2014?
[43:21] What is the focus for Military Veteran Partners (MVP)?
[45:57] What are some of the underlying causes for Veteran unemployment and underemployment?
[48:47] Steve shares more about the board of MVP.
[53:44] What does Steve see for the future of MVP?
[56:09] What is the current climate for Veterans to start and build businesses and re-enter society?
[58:20] What advice would Steve give his younger self?
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