Bill Hofferth

Bill Hofferth

Chief Operating Officer

Professional summary:

When I was young, they sent me away to teach me how to be sensible. Logical, responsible and practical.
Then they showed me a world where I could be so dependable. Clinical, intellectual, cynical.

(Loosely borrowed from Supertramp, The Logical Song)

Very early in my career, I had a sensible position at a large company where I was responsible and practical. Then I did something that was not so logical. I gave it all up to follow my inner passion, I started an electronics repair business at the age 23 of and I have never looked back.

While building that first business, I would meet monthly with my accountant to review the books. I had grown the business to include 5 bench technicians, 2 drivers, 1 office person and myself. I had negotiated 14 major brand, warranty contracts and provided service to over 30 retail outlets throughout 2 states. My accountant would exclaim “what a profitable business you have built Bill….”. My response was thanks, but why can’t I take home a paycheck? The bills all got paid, the employees all got paid but at the end of the day, there was nothing left for me. His answer was “it is just a matter of cash flow….”. At that point, I realized that operating and growing a business required more than just sales, more than just fulfillment. It required sound fiscal oversight as well.

Since then I have been involved in the successful management, growth and eventual M&A activity of several businesses.  Creating value through growth is an exciting process. It requires problem solving, dedication, versatility and a willingness to do whatever is needed. It requires a plan. Pivoting, rethinking and adapting as roadblocks to that plan present themselves. Determination and solutions, no excuses.

These are my experiences that, coupled with EI have helped me to achieve some of my goals. There are many more yet to be gotten!

I have been at Virtual DBS since:
2017

Best thing about working here:
As one of the newest members of the VDBS team, I have been overcome by the gracious, hardworking, dedicated, talented and most of all, fun team that has been put together here over the years. The view of the marina isn’t bad either.

Hobbies, activities, or interests:
My family, woodworking, the beach, golf, and of course…. Selling on EBAY

Interesting story or fact about me:
I once landed a job on a cruise ship with 180 souls on board. It was my first time on a boat ever!  As the newest deckhand my first task was to steer the boat down an inland waterway. With the captain and first mate distracted behind me I unknowingly skewed the rudder and lost the ability to turn left. Moments later after the captain realized what was happening, he shouted some expletives and threw me to the deck. Despite his efforts to right the ship, he sideswiped the abutment of a bridge. Luckily no one was hurt and the ship was undamaged but the remainder of my life at sea was spent in the galley washing dishes. I have been working on land ever since!