Darrell Fouts, CBI, M&AMI
M&A Source Chairman, 1992
To me, ethics is what made a success for me, and made me comfortable with life. Being able to do things right for people, or at least trying to do them right, has probably driven me as much as anything.
I’ve always liked teaching; I decided I’d start teaching other people to help them along. Business has always been for me, helping other people to accomplish things, and in the process doing well for myself. Within this profession, I think that the growth of this organization has been as significant to me as anything I’ve ever done, my involvement in helping it grow.
I was on the board of directors of the IBBA, and could see a need for a different level of interaction between brokers in the field. That was at a level of higher transactions, and more complicated transactions. I encouraged the board to allow me to develop that segment of our profession. It took about two years before I could get approval from the board to attempt to draw together members within our organization that specifically dealt with larger transactions; i.e. over a million dollars at that time, was what our benchmark was. The board said they wouldn’t help me. We won’t provide any money, but it’s okay for you to try that.
We sent out notices and invited people to the IBBA Conference in Denver in 1990. We had meetings specifically to see if there was interest in developing an organization, we didn’t have a name yet, but it would consist of people who sold larger transactions. Fifty people showed up at that meeting. I suggested that we would each need to donate $500.00 into the treasury to get it started, and thirty people did. That was the start of the M & A Source. I chaired it for the first two years. We developed a name, goals, mission statement, and slowly developed it over the years. It’s grown into a very successful professional organization.
It is the feedback I get from the people, and the classes that I’ve taught. One of the people came up to me that was in one of my classes in 1990, they didn’t know anything, now they are very successful at what they do, they are very happy, and they come and tell me about it. Those are the strokes that I enjoy.