When Michael Spraggins, CEO of Spraggins, Inc., made the decision to step into his family’s home flooring business, he realized pretty quickly he was facing some significant challenges. The company his father founded was a commodity business with a concentrated customer base that operated in Florida’s cyclical boom-bust construction industry—a tough combination.

Despite those challenges, Michael had a vision for building a large, diversified company, and he committed to doing just that. In this talk from Tugboat Institute Summit 2021, Michael shares the milestones—and notable failures—along the path to growing a global business and a nonprofit organization and the personal fulfillment of creating a legacy for his family.