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On today’s episode of the Small Business, Big Deal podcast, our guest is Rich Tarwater, owner of Tarwater Farm and Home. Find out how he expanded the family business and what advice he has for his children.

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Show Notes For This Episode

On today’s episode of the Small Business, Big Deal podcast, we talk with Rich Tarwater, owner of Tarwater Farm and Home.

Rich’s parents opened the business in 1978, selling gasoline and some farm supplies in a 1,200-square-foot store. Rich purchased business in 1997, along with some surrounding property, and continued to expand it. He added a grain elevator in the mid-1990s and built a new showroom in 2014.

Rich purchased Holton Farm & Home in 2019 and is in the process of selling the business to his kids. He is now semi-retired but says a good work-life balance and spending time with your family is most important.

“I missed out on a lot of [my kids’] things growing up. I don’t have a lot of regrets in life, but that is one,” he said. “I always tell my kids, ‘Don’t grow up to be me. Make time for your family.’”

During our interview, Rich also shared:

  • How he and his wife took over the business
  • How he handles leadership and his team
  • What makes his business different
  • Balancing personal and work relationships
  • The fear of failure
  • How Covid affected his business

Listen to the full interview above and use the timestamps below to jump to a specific topic. Thanks for listening!

[1:05] – Tarwater Farm and Home

[2:57] – Taking over the business

[8:32] – Leadership and his team

[13:43] – Difference in his business

[15:51] – Personal and work time

[20:18] – Failure

[25:20] – Expansion

[31:45] – Covid

[38:28] – Advice for young entrepreneurs

[40:05] – Bonus content

 

Quotable Moment:

I missed out on a lot of [my kids’] things growing up. I don’t have a lot of regrets in life, but that is one.

-Rich Tarwater

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