From Stay-At-Home Mom to Home Health Care Billionaire | April Anthony
E33: On today's episode of the Cashing Out podcast we are very fortunate to be chatting with April Anthony, currently the founder of the VitalCaring Group, which is her fourth home health care company. April is a home health care and technology entrepreneur with three exits under her belt. She started her career as an accountant, but at the age of 25, with the initial goal of being a stay-at-home mom, April talked herself and her husband into buying one of her clients, which was a failing home health care company. The next 25 years is a remarkable story of perseverance and success where April built and sold three home health care businesses for more than $1.5 billion.
April's superpower comes from her early days as an accountant and her unwavering perseverance to follow her purpose, which allowed her to flip the home health care industry on its head. In our discussion, April shares how finding your purpose will drive your business success, why you should do due diligence on your buyer, and when to sell pieces of your business while rolling equity to take a second, third and fourth bite of the apple.
April's superpower comes from her early days as an accountant and her unwavering perseverance to follow her purpose, which allowed her to flip the home health care industry on its head. In our discussion, April shares how finding your purpose will drive your business success, why you should do due diligence on your buyer, and when to sell pieces of your business while rolling equity to take a second, third and fourth bite of the apple.
Episode Sponsor:
Thanks to DoerenMayhew for sponsoring this episode of the Cashing Out podcast! DoerenMayhew is one of Forbes best tax and accounting firms in the United States. Check out their Quality of Earnings (QofE) offerings, and everything else they can help you with at doeren.com.
Episode Highlights:
- (3:32) April's beginnings as a CPA at PricewaterhouseCoopers, and buying her first home healthcare business from a client
- (8:24) From initial losses to profitability - building her first big home health care company
- (14:24) Selling her first business to a flawed owner, and what that meant to her earnout
- (21:51) Due diligence works in both directions - what April missed the first time around
- (28:39) Starting her second business, and building through acquisition (first) and organically (second)
- (36:58) What it meant to find the perfect Private Equity partner
- (39:03) April's perspective on when to sell your business - lake house or generational wealth
- (43:08) Self-awareness and entrepreneurship - the importance of being able to objectively look at your skill sets
- (45:27) Two, three, and four separate bites of the apple that created significant wealth for April and her family
- (51:04) April's "why", and a healthy balance of profit generation and mission
- (56:35) Failing at retirement, and creating her next home health care company, the VitalCaring Group
- (58:56) The importance of having a supportive family and amazing marriage partner
Where To Find Todd Sullivan (Host):
- LinkedIn: https://www.linkedin.com/in/toddfsullivan/
- Twitter: https://twitter.com/Todd_Sullivan
Where To Find April Anthony (Guest):
Episode 33 Required Reading:
- April Anthony: Forbes 2022 America's Richest Self-Made Women (#28)
- April Anthony: Forbes BILLIONAIRESDAILY COVER
- Doeren Mayhew
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