Aug 29, 2023
Chris Carey is the Co-founder of Modern Automotive Performance (MAP), a high-growth e-commerce manufacturing company serving the automotive industry. In 2006, Chris launched the company using a bedroom closet to store inventory, and by 2011, MAP ranked #403 on the Inc. 500 list of fastest-growing privately held companies in the US. He sold MAP to Enthusiast Enterprises in 2020, generating $44 million in revenue.
His thoughts regarding entrepreneurship, e-commerce, and leadership development have been published in the Wall Street Journal, Inc. magazine, and Minnesota Business. Chris is a General Partner at Traction Capital, where he adds value to portfolio companies, assists with acquisition initiatives, and furthers his knowledge of venture capital and private equity.
In this episode…
The process of building and launching a business takes such an emotional, physical, and mental toll that most early-stage entrepreneurs wouldn’t dream of selling their company. As the years go by, it’s inevitable for business owners to consider the next phase for themselves and their organization. If selling your business is in your best interest, how can you prepare for a seamless transition?
Entrepreneurs are advised to begin the exit process well in advance to ensure the company is prepared and ready to hand off to the succeeding owner. Chris Carey, a post-exit entrepreneur, didn’t hesitate to begin his due diligence upon recognizing his company’s valuation had peaked and he was ready for a new challenge. In doing so, he gave himself adequate time to increase revenue and reduce overhead before burning out. Chris attributes his graceful business exit to a structured EOS and a supportive peer group through EO — and he recommends fellow entrepreneurs take advantage of these resources.
On this episode of the Up Arrow Podcast, William Harris welcomes Chris Carey, the former Co-founder of Modern Automotive Performance (MAP), to discuss the resources that helped him prepare for his exit from MAP. Chris delves into MAP’s origin story, the motivation behind creating a product line, and how his role as an executive affected his physical health. He also explains why establishing an EOS and joining EO is beneficial for entrepreneurial success.