Founder, Penny Strategies
February 22, 2022
As an advisor and coach to growing businesses, Randy Haran utilizes a “can be” philosophy that helps business owners and entrepreneurs become better prepared to have a successful stake in the outcome by producing rapid financial results and lasting cultural change. His firm’s methodology and strategies provide a solid foundation for short- and long-term financial planning, forward forecasting, and growth, while also promoting an internal culture of ownership based on his “We Before Me” philosophy. This philosophy recognizes that successful companies must focus on the business first; otherwise, prioritizing personal influences (the “Me”)—such as ego, greed, and entitlement—can lead to failure.
Randy co-founded Texas Air Composites (TAC), which was one of the nation’s leading FAA-authorized repair centers for commercial and regional airlines specializing in composite metal and welded structures. At TAC, Randy honed his unique management style that is based on a passionate belief in forward forecasting, which encourages each employee to understand the inner workings of the business and, thus, become truly invested in the success of the company. Randy negotiated the sale of the business in 2014 with revenues of $23 million. He was able to recast an additional $1 million, which increased their EBITDA to 19% while being QE compliant and having no earn out. If a TAC shareholder invested $500k in 2000 at $0.38/share, they would have received a 55x return at $21.16/share: A 33% compounded annual return over a 14-year period!
In addition to his consulting work with Penny Strategies, Randy is a member of the Network for Teaching Entrepreneurship (NFTE)—an international, non-profit organization providing entrepreneurship training and education programs to young people from low-income, urban communities—where he also serves as regional chair of the organization's North Texas Advisory Board. He was named NFTE Volunteer of the Year in 2015. Randy was also on the original Great Game of Business Practitioner Council in 2009 and is currently a Great Game of Business Certified Coach. ✯