# "I Told My Wife, This is Going to Take Every Nickel We Have" | How Murray Arsenault Went All In On Entrepreneurship

Page: https://stenobird.com/podcast/control-and-compound-with-darren-mitchell-5442045/i-told-my-wife-this-is-going-to-take-every-nickel-we-have-how-murray-arsenault-went-all-in-on-entrepreneurship
Text version: https://stenobird.com/podcast/control-and-compound-with-darren-mitchell-5442045/i-told-my-wife-this-is-going-to-take-every-nickel-we-have-how-murray-arsenault-went-all-in-on-entrepreneurship.md
Podcast: [Control and Compound with Darren Mitchell](https://stenobird.com/podcast/control-and-compound-with-darren-mitchell-5442045)
Published: 2026-05-07T13:01:00+00:00
Episode link: https://cccbb75a-90c4-435b-b701-9c67ba289c79.libsyn.com/i-told-my-wife-this-is-going-to-take-every-nickel-we-have-how-murray-arsenault-went-all-in-on-entrepreneurship
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Duration seconds: 2720

## Resource

Check out our new Business Masterclass: https://hub.controlandcompound.com/business-masterclass-webinar-replay From salmon fishing in Alaska to running one of the North's most respected construction companies, this episode is packed with real entrepreneurial lessons. In this Entrepreneur Spotlight episode, Darren sits down with good friend Murray Arsenault — owner of Arctic Backhoe in Whitehorse, Yukon — to talk about risk, resilience, leadership, and what it actually takes to build a business in one of Canada's toughest operating environments. Murray shares the story of leaving senior government roles behind, betting everything he and his wife had on buying Arctic Backhoe, navigating cash flow crises, building a dominant niche business, and why most people fundamentally misunderstand entrepreneurship. This is a raw conversation about risk, ownership, business growth, northern Canada, and what happens when you truly go all in. Show notes: 00:00 - Introduction 01:29 - Growing Up in Nova Scotia & Moving North 03:04 - Economic Development in the Arctic 06:09 - Murray's First Truck in the North 07:10 - Transition Into Government Leadership 10:42 - What Government Misunderstands About Entrepreneurs 14:04 - Leaving Government & Buying Arctic Backhoe 18:10 - Financing the Business Purchase 20:42 - "This Will Take Every Nickel We Have" 22:13 - Learning to Operate the Business 27:07 - The Cash Flow Crisis That Nearly Broke Them 30:18 - Growing a Business in a Small Market 34:56 - Entrepreneurship & Family Influence 41:12 - Biggest Risk & Most Underrated Business Skills 43:35 - What Murray Would Do Differently FIND US ON: INSTAGRAM: https://www.instagram.com/controlandcompound TIKTOK: https://www.tiktok.com/@controlandcompound?lang=en LINKEDIN: https://www.linkedin.com/company/d…

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